TDS for the financial years

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This discussion addresses a government school's query regarding TDS filing for rent payments. While the school accrues rent quarterly, they currently file TDS returns on a cash basis. The owner is requesting TDS be reflected on an accrual basis. The advice provided suggests remitting TDS on an accrual basis and filing quarterly returns to accurately reflect the TDS on rent for the three-month period.

Chandra Kala

Chandra Kala (Querist)
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22 July 2021 Ours is a government school. we giving rent as per accrual bases( i.e.3 months once). but we are filling tds returns for rent as per cash bases. But owner asking us tds should be reflected as per accrual bases. how to submit tds returns as per accual bases. Kindly suggest us

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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22 July 2021 Remit TDS on accrual basis and file TDS return.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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23 July 2021 TDS is required to be deducted on payment basis but still if school ask for accrual basis, then file TDS return quarterly showing TDS on rent for 3 months.

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