Pandusubbu
Employee
SUNIL9871
Accounts
MURALI SUNDARA DASS
Chartered Accountant
+2 Others

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Hi Sir,
I am newly joining a company as a junior accountant my office business is the corporate guesthouse. we have take the flats and houses for rents or lease for one year. so my doubt is the every month we have to pay the rent to the custmoers so when we will pay the amount through cheque plz send me the entries. every month we deucted the tds alsd kindly helpe me sir
Thanks & Regards,
Subramanyam.

From India , Hyderabad
Dear Friend If yearly rent in equal and more than Rs 120000/- than 10% tds deducted from the rent other wise not deducted. it is only and more than Rs 120000/- thanking you sunil
From India , Delhi
Hai subramani
Entry for the Lease rent along with tds would be
Lease Rent a/c dr
To Land lord a/c
To Tax deducted at source
(being entry for lease rent due)
Land Lord a/c dr
To Cash/bank a\c
(being entry for payment)
Lease rent should be created under Indirect expenditure
Land lord should be created under current liabilities
tax deducted at source should be created under current assets
Murali sundara dass.r

From India , Coimbatore
The entries are correct but small correction
tax deducted at source should be created under current liabilities b'coz whatever tax deducted on payments is to be remitted to the Central govt thru Banks via Challan etc.,

From India , Hyderabad
Hi Sir,
We received security deposit from customers and we received rent every month. after expiry the agreement we refund the sercurity deposit so last to month we did not receive the rent. he said rent adusted in the security deposit. how to make entries in tally.
security deposit received
bank a/c dr
to security deposit a/
rent received every month
bank a/c
rent a/c
how make the entry adjusted
security deposit adjusted in the two months rent

From India , Hyderabad
1) rent a/c dr..........130000
TO RENT LORD A/C 117000 A/C CR.
TO TDS ON RENT 13000 A/C CR.
2)
TDS ON RENT A/C DR. 13000

TO BANK 13000 (AT THE TIME OF PAYMENT OF TDS)
3)
LAND LORD A/C DR,-------117000
TO BANK (FOR PAYMENT OF LAND LORD )

From India , Kanpur
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