Thread Started by #Thiyagarajan G

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
17th November 2013 From India, Chennai
Dear seniors So long time am waiting for your valuable replies pls pls help me out on this
24th November 2013 From India, Chennai
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
5th December 2013 From India, Pune
Dr. Office Rent Dr. Input Service Tax Cr. Rent payable Cr TDS Payable
5th December 2013 From India, Mumbai
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
8th December 2013 From India, Chennai
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
9th December 2013 From India, Pune
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
27th January 2014 From India, Pune
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..
30th October 2014 From India, Chennai
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