TDS-Rent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 December 2010
Company has paid 3 mth rent as deposit but in agreement it is specified that the deposit is not refundable and will be adjusted in future rent. Now what is the tax implication on licensee side from tds angle. PLs advice
16 December 2010
TDS need to be deducted on such deposit u/s 194I @ 10%.
16 December 2010
TDS will be deducted in the month in which he will book his income.that is if he has taken 9000 in advance and treat 3000 rent for first month and further than on 3000 tds will be deducted respectively as per section 194 I
17 December 2010
At the time of deposit TDS need not to be deducted but when the deposit amount adjusted against Rent, it is subject to TDS.(Accordingly you have to either pay TDS out of packet and get it from them or incur it as your expense)
17 December 2010
Agree with Sanjay.
TDS has to deducted either at the time of credit to the account of the payee or payment, which ever is earlier.
Hence, TDS shall be deducted @ 10% at the time of payment of advance rent.
TDS has to deducted either at the time of credit to the account of the payee or payment, which ever is earlier.
Hence, TDS shall be deducted @ 10% at the time of payment of advance rent.
17 December 2010
Agreed With Sanjay Ji & Naik Ji.
In agreement it is clear that deposit will be adjusted agaisnt rent i.e it is treated as advance payment of rent not deposit.
In agreement it is clear that deposit will be adjusted agaisnt rent i.e it is treated as advance payment of rent not deposit.
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
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
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
