TDS Query
This query is : Resolved
18 September 2010
Sir,
Greetings of the day!
One of my client has paid rent in advance for the period Nov09-July 10 in the month of Sep 09.
Rates of TDS was revised in Oct 09.
My client has deducted tds at revised rate for the amount of rent paid in sep 09.
Now the problem is at what rate the tds should be deducted i.e. @ 15.45% or 10%.
Please advice me asap.
Thanking you regards
Shachee
Greetings of the day!
One of my client has paid rent in advance for the period Nov09-July 10 in the month of Sep 09.
Rates of TDS was revised in Oct 09.
My client has deducted tds at revised rate for the amount of rent paid in sep 09.
Now the problem is at what rate the tds should be deducted i.e. @ 15.45% or 10%.
Please advice me asap.
Thanking you regards
Shachee
sudhakar ca cwa
(Expert)
18 September 2010
payment or credit which ever is earlier is the base for TDS deduction.
so 15.45% is correct.
so 15.45% is correct.
18 September 2010
TDS is deducted on the date of payment or credit whichever is earlier. So if TDS is deducted on advance payment then TDS should be deducted at the rate prevailing on the date of Advance Payment.
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