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Tds applicability on transfer of property
client A enters into an agreement for 99 years lease with kssidc. does client A should deduct tax? please explain.
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Hi,
According to Sec 194I, no tax at source needs to be deducted from payment by way of rent (Lease) made to Government and entities whose income is exempt under clause (20) and (20A) of Sec 10. Ref. circular No.699, dated 30.01.1995.
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