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

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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02 June 2010 AGREE DEDUCT TDS ON WHOLE AMOUNT OF RS.125000/- ON THE DATE WHICH LIMIT OF RS.120000/- IS CROSSED.

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Amit

Amit (Expert)
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02 June 2010 Agree with experts

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

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

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