TDS on Rent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 January 2011
Hi All
My organisation has cancelled a rental agreement and as per the terms of the agreement we have to pay 6 months rent as penalty and a part of it will be adjusted against the deposit.
My question should TDS be decucted on the Penal amount being paid.
Thanks in advance
My organisation has cancelled a rental agreement and as per the terms of the agreement we have to pay 6 months rent as penalty and a part of it will be adjusted against the deposit.
My question should TDS be decucted on the Penal amount being paid.
Thanks in advance
20 January 2011
Yes TDS needs to be deducted on above amount as the same is paid under a rent agreement.
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