Tds on property

This query is : Resolved 
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(Querist)
05 August 2015 YOU ARE THE ACCOUNTANT OF X LTD WHO HAS GIVEN ITS PROPERTY ON RENT @ RS.20000 PER MONTH TO Y LTD WHO HAS DEPOSITED SECURITY OF RS.500000 WITH X LTD BEARING INTEREST @ 12% P.A,

YOU HAVE RECEIVED A CHEQUE OF RENT FROM Y LTD FOR THE MONTH OF APRIL AFTER ADUSTING INTEREST ON SECURITY DEPOSIT. X LTD AND Y LTD. MAINTAINS ITS CURRENT ACCOUNT IN PUNJAB NATIONAL BANK AND STATE BANK OF INDIA RESPECTIVELY.



RATE OF TDS ON RENT AND INTEREST IS 10%

RATE OF SERVICE TAX IS 14%


PASS ALL ENTRY WITH RECEIPT OF THE CHEQUE
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Amol S Joglekar

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Amol S Joglekar (Expert)
05 August 2015 Can you please clarify if the RENT is inclusive of service tax?
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