Hi!
If one person has kept stock in warehouse which is owned by another person and paying him monthly warehouse charges, then he should deduct TDS on same saying it is contractual payment?
Thanks in advance.
Hi!
If one person has kept stock in warehouse which is owned by another person and paying him monthly warehouse charges, then he should deduct TDS on same saying it is contractual payment?
Thanks in advance.
according to circular 718 dt 22-08-1995 warehouse charges is not treated as rent, since it doesnt fall within the purview of rent..as such tds under 194i isnt applicable in case of warehouse charges..
Circular 718/22-08-1995 says that payment made for warehousing charges is deductable for tds u/s 194 i (rant). so 194 I is applicable and tds rate is 10%.
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