TDS applicability on security deposit forfeited by lessor
This query is : Open
24 February 2021
Lessor forfiting 50% of security deposit on account of early vacating premise taken on long lease.
Do i need to collect and deposit TDS on amount forfited?
If yes, under which section?
if no, what would be the argument in support of not collecting and depositing TDS?
Do i need to collect and deposit TDS on amount forfited?
If yes, under which section?
if no, what would be the argument in support of not collecting and depositing TDS?
24 February 2021
Yes, 10% TDS applicable under section 194 I. Higher lease amount collected in view of early vacation.
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08 March 2021
Thank you Sir CA R SEETHARAMAN
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