tds on rent
This query is : Resolved
Mohammed Khairuddin
(Querist)
31 May 2016
whether advance rent paid is liable to deduct tds
CA Rohit Jain
(Expert)
31 May 2016
yes, even advance rent is liable for deduction of TDS. However if the advance rent is for more than a financial year, then TDS should be deducted only on amount of rent which relates to current year
Gokul Sharma
(Expert)
01 June 2016
LIABILITY TO DEDUCT TDS ARISES AT THE TIME OF BOOKING OF EXP OR PAYMENT WHICH EVER IS EARLIER IF LIMIT FOR DEDUCTION IS EXCEEDING.
IN CASE OF RENT THE LIMIT IS 180000 IN ONE FY.
IF RENT IS BELOW THE LIMIT NO NEED TO DEDUCT TDS
IN CASE OF RENT THE LIMIT IS 180000 IN ONE FY.
IF RENT IS BELOW THE LIMIT NO NEED TO DEDUCT TDS
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