Rent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 August 2011
sir
my rent aggrement is started from dec2010 to nov 2011. my monthly rent is 41000/- I had given a one month security. after 10 month owner said security will be adjusted in rent. when tax is deducted when he treat rent or when i pay security
my rent aggrement is started from dec2010 to nov 2011. my monthly rent is 41000/- I had given a one month security. after 10 month owner said security will be adjusted in rent. when tax is deducted when he treat rent or when i pay security
05 August 2011
Since the advance rent is adjusted in rent,it partakes the character of 'refundable deposit'. Therefore, TDS is not applicable at the time of payment of 'security' as per circular 718 dated 22/8/1995. But TDS may be applied in the month of adjustment from 'security' to rent.
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