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TDS on Increase of Rent

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This query is : Resolved

Ch. Sai Sudha Mohan (Querist)
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27 April 2023 The Rent from April 22 to December 22 is Rs.20000/- per month. However, due to the change in agreement the rent from January 23 to March 23 has been revised to Rs. 25000/- pm month. Which makes the total Rent to Rs. 255000 per annum, crossing the limit of tds of Rs.240000/-. The assessee is covered under tax audit. So we started deducting tds from January 23. My doubt is weather we need to deduct TDS on Earlier payments also and if yes, will there be interest on delayed payment of tds as we are paying the tds now. Also should we file tds returns for earlier quarters also, showing the tds for earlier months.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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27 April 2023 TDS should be deducted over total amount, including rent paid earlier. You can deduct the TDS in last quarter as the basic exemption limit exceeded in Q4.

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