Tds on container rent

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 April 2014 We have taken a Container on rent for office use for 6 months and paying a monthly rent of RS 50000. i WANT TO KNOW AT WHICH RATE U/S 194I (10& OR 2%) DEDUCT TDS ON RENTAL CHARGES..

Rupesh Jain

Rupesh Jain (Expert)
Follow

18 April 2014 rent u/s 194I @ 2%

Querist : Anonymous

Querist : Anonymous (Querist)

18 April 2014 Plz expain Why 2% ???

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

18 April 2014 TDS to be deducted u/s 194I @10%. 2% is only for plant & machinery. Container is not a Plant & Machinery so TDS to be deducted u/s 194I @ 10% only provided the threshold limit of Rs 1.80 Lacs per annum is crossed.

Message likes : 1 times