We have paid 80000 in advance on 20 apr for the month of May . I received the the bill for rent of May on 8 may amount 180000. And paid remaining 1lakh on 20 May.
Q-When I need to deduct the TDS in April at a time of partial rent payment or when I received the bill on 8 may.
4 Replies
sanjith kotni
(Articled assistant)
(663 Points)
Replied 09 May 2020
TDS to be done at the time of payment only if you pay advance .On balance amount ,which is not yet paid -100000 ,you can deduct in may
Rohan
(Accounts executive)
(35 Points)
Replied 09 May 2020
That means i have to deduct TDS on 20 May on whole rent 180000 and pay by 7 June ?
sabyasachi mukherjee
(27841 Points)
Replied 09 May 2020
Its advisable to deduct tds
As per Sec 194I
rent to be deducted on the basis of payment or expenses which accrue whichever is earlier.
As per Sec 194I
rent to be deducted on the basis of payment or expenses which accrue whichever is earlier.
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