Monthly rent paid by Partnership firm Is 50000. And neither firm is not deducted tds nor filed tds return. What should be the complications? Is there any solution?
For the FY 2020-21 tds not applicable. And applicable from FY 2021-22.
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Regarding tds on rent
Replies (1)
SINCE F.Y. 2021-22 IS NOT COMPLETED YET, YOU CAN DEDUCT TAX OF QTR 1 WHICH WAS OMITTED TO BE DEDUCTED ALONGWITH THE TAX DEDUCTED IN QTR 2. MAKE THE FURTHER PAYMENT OF RENT TO LANLORD ONLY AFTER DEDUCTION OF TAX OF QTR1 AND QTR 2.
FROM QTR3 ENSURE QUARTERLY DEDUCTION, DEPOSIT OF TDS AND FILING OF TDS RETURN.
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