Tds on property
This query is : Resolved
dharmvir kumar
(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
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
Amol S Joglekar
(Expert)
05 August 2015
Can you please clarify if the RENT is inclusive of service tax?
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
