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

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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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