TDS

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 June 2010 Please some one inform me about following querry:
X is paying rent of Rs. 10,000/- p.m. to Y from Apr-09, but in Feb-10 Y is charging rent Rs. 12,500/- p.m.
in this case on what amount X should deduct TDS?
only on amount of Feb-10 or on the whole amount paid to Y from Apr-09 to Jan-10(i.e. 1,00,000/-)
because threashold limit of 94 I is Rs. 1,20,000/- and Mr. Y rent amount is increased in Feb-10

CA CHINTAN AJMERA

CA CHINTAN AJMERA (Expert)
Follow

02 June 2010 Whole Amount Rs. 1,25,000.

Message likes : 1 times

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

02 June 2010 AGREE DEDUCT TDS ON WHOLE AMOUNT OF RS.125000/- ON THE DATE WHICH LIMIT OF RS.120000/- IS CROSSED.

Message likes : 1 times

Amit

Amit (Expert)
Follow

02 June 2010 Agree with experts

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

02 June 2010 thanks for the informaation Sir,
is it mean that X has to deduct Rs. 11,250/- from the rent of Feb-10, which amounts to Rs 12,500/-..?

kindly inform me please

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

02 June 2010 YOU WILL HAVE TO DEDUCT TDS ON RENT OF RS.125000/- @10% i.e =RS.12500

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

02 June 2010 yes Sir,
but in Feb-10, Mr. X should deduct TDS of Rs. 11,250/- from the Feb-10 rent payable amount i.e. Rs. 12,500/- and balance TDS Rs. 1,250/- should be deducted in Mar-10 rent payable.......?
Am I right Sir.......?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

03 June 2010 YES YOU ARE ABSOLUTELY CORRECT IN YOUR APPROACH.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Rasheed Mohd Abdul

BABUSHANKAR BASAPPA

jagadheswar goud

S J MITRA

Anurag Sharma

Subscribe Now

TDS

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA