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Tds on earlier rent

ravi (articleship student) (67 Points)

09 April 2014

RESPECTED SIR

FINANCIAL YEAR RENT INCLUDES EARLIER RENT DUE TO THAT RENT EXCEEDS 180000 WHETHER TDS IS APPLICABLE ON THAT RENT PLZ ANS ME

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3 Replies

DINU SUKUMAR (Audit Manager) (176 Points)
Replied 09 April 2014

Hii, In this case, you are liable to deduct TDS.Regards

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Income Tax Wala: (Fin. Expert) (Chartered Accountants) (2015 Points)
Replied 09 April 2014

there can be two aspect in your case

aspect 1. suppose expenditure of rent booked in F.Y. 2013-14 Rs. 50,000/- and paid in F.Y. 2014-15 and along with rent of 2014-15 Rs. 150000/- than total rent become say 200000/- than no TDS provision will apply

aspect 2. suppose expenditure of rent not booked in F.Y. 2013-14 Rs. 50,000/- and paid in F.Y. 2014-15 and along with rent of 2014-15 Rs. 150000/- than total rent become say 200000/- than TDS provision will apply.

Note: above mentioned facts is just an expample for understanding

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jatin aswani (ARTICLE ASSISTANT) (102 Points)
Replied 10 April 2014

If in the previous f/y tds deducted on that rent on due basis..then there is no liability to deduct tds.....or if not , then yes ....tds is to deducted on that rent on payment basis........ & suppose if limit in previous f/y was not exceeding 180000....& that rent is paid in current f/y then tds is not to be deducted...