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Tds query

CA ARPIT BANGA (job ) (376 Points)

15 October 2014

Genset rant cover under which section under sec 194I or 194C

Please provide me all details for above matter in different conditions.

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9 Replies

Aditya Nalpet (Articled Assistant) (61 Points)
Replied 15 October 2014

As per my knowledge it is covered under 194I(a) - rent on plant and machinery.

vijaydeepsingh (article) (71 Points)
Replied 15 October 2014

It's is covered under renting of P&M

Shridhar (a/c executive) (31 Points)
Replied 15 October 2014

It is covered under 194I(b) - rent

Shridhar (a/c executive) (31 Points)
Replied 15 October 2014

As rent on plant & machinery and rent on property & furniture attracted different rate of TDS , there was lot of confusion which resulted in incorrect deductions leading to unintentional defaults . This has now been addressed and from the FY : 2013- 14, Section 194I ( Rent Payment ) has now been bifurcated into two sections as under : 194I ( a) ? Rent for Plant & Machinery ? 2 % 194I ( b) ? Rent for land, building & furniture ? 10%

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Sandip R Lathiya (Executive) (427 Points)
Replied 15 October 2014

It's is covered under renting of P&M

CA. Vaibhav Moholkar (Proprietor) (37 Points)
Replied 15 October 2014

Genset fall under P&M. As there is separate section of TDS for deducting TDS for payment of Rent on P&M,in my opinion, TDS will be deducted of P&M.

yogesh tiwari (account) (48 Points)
Replied 16 October 2014

it is covered under 194 I P & M

CA SUKSHAM ARORA (CA) (569 Points)
Replied 16 October 2014

ACCORING TO ME ITS 194 I & PROBABILY (b)

balkishan sharma (Student CA Final ) (99 Points)
Replied 18 October 2014

I am agree with vaibhav ji

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