Ours is pvt ltd co. We signed a lease for 11 months for rental accommodation for our director. Lease period being 16/11/2008 to 15/10/2009. Rent charged to books was Rs.90000/- for the period 1/11/2008 to 31st March 2009 i.e. Rs.90000 for 4.5 months. Advance Rent Rs. 10000 for period 1/4/2009 to 15/4/2009 was paid last financial year and no tds was deducted as the total outgo was < than Rs.120000/-. This amount of Rs.10000 has been debited to current financial year. During the current F.Y., 6 payments of Rs.20000 per month will be made with the lease period which will be less than Rs.120000. Do we have to deduct TDS on these payments.?.
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