Answer of this question

For Rent Expense Ledger,you can check following

Check different Rent Agreements to ensure that

1. Rent paid is as per agreement
2. Agreement is still valid
3. Security Deposits shown in books is as per agreement

Check TDS

Ensure that TDS is deducted in case annual rent is more than 180000 under 194I

Check Service tax

Service tax is applicable on commercial property.TDS is not applicable on Service tax component

If input of this service tax taken,then it should be ensured that it should be related to business

Check Rent of House Used by Employees

Find out which house used by which employee

Ensure that for the employees,this house has been taken into account while calculating RFA Perquisites (Rent Free Accomodation perquisite)

If any amount recovered from employees,ensure that is as per written terms of agreement

Also,sample check whether it is deducted from employee salary and taken into account while calculating Accomodation at Concessional Rent

Learn more

RFA

http://www.teachoo.com/171/52/RFA-(Rent-Free-Accomodation)-and-Accomodation-at-Concessional-Rent/Taxability-of-Perquisites

Section 194I

http://www.teachoo.com/945/367/

Input of Service Tax

http://www.teachoo.com/3885/321/Input-Of-Swachh-Bharat-And-Krishi-Kalyan-Cess-On-Expense-Bills/Service-Tax-Computations/author/teachoo/

Written on July 16, 2016, 7:40 p.m.