TDS on office rent

463 views 5 replies
Hi All

We have office rent and paying monthly and deducting tax monthly

Feb and March 2022 rent was paid May 2022 and filled the return

now owner is asking to pay tax for Feb and March in FY 2021 to 22

as per my knowledge tax should be deducted at the time of rent payment

can you please assist me on this issue

my owner business nature is Trust

thanks
kumar
Replies (5)

Actually TDS should be deducted when it is paid or due, whichever is earlier.

So, the owner is correct. You need to rectify your Q4 TDS return.

Thanks sir, Q1 i had already paid and filled return sir if i revised Q4 it will effect on my Q1 current return also, is there any chance to overcome sir without revision

Please help me on this

 

 

 

 

 

 

As per law, you should revise both the returns, to rectify the original mistake.

Is there any penalty for revision of TDS, please confirm 

No penalty but interest may be levied.  

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