Tds on lease rent
This query is : Resolved
06 March 2013
i am Lessee. As per Lease deed, Lease Rent is Rs.200000 per month. At the end of every month i have to pay only 50% of rent i.e Rs.100000 and At the end one year i have to pay remaining 50% of Rent i.e Rs. 12,00,000.
My Question is ,"At the end of every month, on what amount i have to deduct TDS?
My Question is ,"At the end of every month, on what amount i have to deduct TDS?
06 March 2013
TDS to be deducted on date of payment or credit whichever is earlier. If you are booking only 50% then TDS to be deducted on only 50% amount. If you are booking entire amount TDS to be deducted on entire amount.
06 March 2013
as per practice:
you must be booking rent on monthly basis
then you must deduct TDS on that monthly. payment doesn't matter here. because it is monthly rent so book 2 lac pm and deduct TDS monthly.
but it depends on contract conditions.
you must be booking rent on monthly basis
then you must deduct TDS on that monthly. payment doesn't matter here. because it is monthly rent so book 2 lac pm and deduct TDS monthly.
but it depends on contract conditions.
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