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Tds on advance in last month of FY

712 views 25 replies
Originally posted by : CA Rashmi Gandhi
I am still unable to get this query in the way you want me to understand

If You take a shop for rent Rs. 50k running Your practice. Give Rental advance Rs 5lakhs.

Rental will start from April month. Give April's rental amount in May 5th....

 

What is Your TDS activity in the said transactions...???

 

Are You get it now...???

What I m getting is he give 50k in March for which bill raised in April
Originally posted by : CA Rashmi Gandhi
Wait for querist reply , may be I m not correct.

Check Starting query. And replied by querist again 2nd time...

 

(My advance payment is on 25th march 2023 my invoice date is 15 april 2023. advance is for rental service and invoice is also for the same service)

 

 

Still he is not cleared the query. Bcoz, the advance payment is for rent or advance as per lease.

He told advance payment not advance deposit. And also he said that bill raised for such amount in April that shows he made advance payment before raising of invoice.

So, my view is clear in this situation but rest depends on querist.
Originally posted by : CA Rashmi Gandhi
He told advance payment not advance deposit. And also he said that bill raised for such amount in April that shows he made advance payment before raising of invoice.So, my view is clear in this situation but rest depends on querist.

Yes, May be.

 

But, without clarity don't give blender reply. It's not good our profession.

 

Ask details then give correct solution. That's important to query and us...

Ya but the thing is you are thinking from your point of view and I m from my point of view. If doesn't mean I m giving blender reply.
No, No... It's blender reply...

Better to read from first. After that you can understand how you replied in the query...
Tds must be deposited after the first of its credit or payment which ever is earlier.
As per Your message....
Yes, You are exactly correct @ Yasaswi...
My question is that we are booking room for our employee in taj hotel. and pay advance to taj hotel in march, last month of financial year. We deduct TDS in march month. Booking period is of 5 april to 10 april. taj hotel give invoice of april month. Is there any obligation to deduct tds because of financial year is changed.
TDS need to be deduct on payment basis , hence no need to deduct again.


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