Akshay (CA-Final) (105 Points)
27 May 2014At what rate TDS should be deducted if a Company is paying composite rent towards warehouse and machinery installed in that warehouse? The machinery is actually installed to maintain the temperature inside the warehouse. It's a kind of cold storage but not exactly a cold storage.
Rajagopalakrishnan R
(PARTNER)
(1422 Points)
Replied 27 May 2014
Since the basic lease is for warehouse and the machinery is secondary, it is better to deduct the TDS at 10%. In future lease agreements, you can bifurcate the rent for warehouse and amchinery separately if it is imperative
"Live Course on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
