tax deducted at source
This query is : Resolved
12 December 2007
when the refundable deposit with the owner gets adjusted with the last month rent, tenant can not able to deduct tax at source
what is the treatment for the above
what is the treatment for the above
12 December 2007
TDS is to be made when the amount is credited or paid . Adjustment with the refundable deposit is constructive payment of rent . In my opinion TDS will have to be paid by tenant from his funds and recover it from landlord at a later date .
13 December 2007
Hi Prasad Reddy,
From the wordings it is quite evident that the deposit is not a refundable security deposit but a rent adjustable despoit. TDS ought to have been deducted at the time of payment of deposit money.
To accomodate the lapse, you need to deposit the amount of TDS and raise debit note against the vendor.
Rgds/
Vineet
From the wordings it is quite evident that the deposit is not a refundable security deposit but a rent adjustable despoit. TDS ought to have been deducted at the time of payment of deposit money.
To accomodate the lapse, you need to deposit the amount of TDS and raise debit note against the vendor.
Rgds/
Vineet
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- Rental income of jointly held property
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
