Prime Sponsor - FactoHR.com - Payroll Software with GPS Enabled Attendance, Travel, Performance Management, HRMS. Explore Features
How to pass entry for Rent payable with TDS & Service tax
We are running a garments company in chennai. our Rent amount for the month is Rs 150000
am i have little bit confusion with this field
pls help me out
Cite.Co is a repository of information created by your industry peers and experienced seniors sharing their experience and insights.
Join Us and help by adding your inputs. Contributions From Other Members Follow Below...
Dear seniors So long time am waiting for your valuable replies pls pls help me out on this
Dear Mr.Thigagarajan G
Pl clarify whether you are paying rent or receiving rent.
If Rent is paid then you will have to deduct TDS and deposit in Govt Account.
If Rent is received by you then the Payee will take care of it.
At the time of payment of Rent how the Service Tax is applicable in your case.
Please clarify
Ramakant
Dr. Office Rent Dr. Input Service Tax Cr. Rent payable Cr TDS Payable
Dear Ramakanth,
We are paying rent to Garments landlord. because that is not our own land we took tat for rent only.
while we are paying rent to landlord, paying service tax for rent to the landlord @12.36% on Rent amount.
Its rules of Service tax Dep to pay tax against on rent.
I think now u have clear with my quires
Regards
Thiyagarajan G
08 Dec 2013
Dear Mr. Thiyagarajan
Dr.Rent Paid Aaccount Rs.1,50,000
Dr.Service Tax Input Account Rs. 18,540
Cr. TDS Rent Rs.15,000
Cr.Bank / Party Account 153,540.00
TDS is not applicable on Service Tax Quantum see following link
http://www.charteredclub.com/tds-rent/
I hope the matter is clear to you.
Ramakant R
Dear (Pro) Prasad (80) Please note the Rent paid is for the month not for the year. Certainly for the year it will cross the threshold limit. I hope the matter is clarified. Ramakant
Dear experts, Good day. I am home based Accountant. I have completed my client's 2 year account (Books keeping process) through Tally software with excel final accounts. Total entries in Tally aprox. 1800. How can i calculate my charges? Any schedule? Please help..
Prime Sponsor - Talentedge.com "Interactive Anywhere Learning". Executive courses from top reputed institutes like IIM, XLRI, MICA. View Courses
This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service



All rights reserved @ 2019 Cite.Co™