Avail 50% discount on all subjects for Nov batch(access till Nov 20th). Use coupon code Nov14.

×

Please Wait ..

Sign-in to your account


Username:
Password:

Remember Me

Forgot your password?

Sign-up now



Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.


Discussion > Income Tax > TDS >

What is the TDS rate on Lease Rental payment

    Post New Topic
Pages : 1 2





Trainee


[ Scorecard : 40]
Posted On 23 February 2010 at 14:44 Report Abuse

What is the TDS rate on Lease Rental payment. Whether on lease rents TDS is applicable.


Online classes for CA CS CMA



Rachit
Analyst


[ Scorecard : 873]
Posted On 23 February 2010 at 15:51

In my opinion TDS on lease rental would fall under the purview of sec. 194I.





Amir
Learner


[ Scorecard : 3956]
Posted On 23 February 2010 at 15:54

Dear Varsha,

As per Sec 194I , TDS on Rent is to be deducted as follows -

a) two per cent for the use of any machinery or plant or equipment; and

 (b)  ten per cent for the use of any land or building (including factory building) or land appurtenant to a building (including factory building) or furniture or fittings:)

No deduction is to be made if Rent to a person doesnot exceed 1,20,000 in a year.




Varsha Kalantri
Trainee


[ Scorecard : 40]
Posted On 23 February 2010 at 16:14

Originally posted by : Varsha Kalantri

What is the TDS rate on Lease Rental payment. Whether on lease rents TDS is applicable.

 This is for vehicles acquired on finance lease. On  which it is to be deducted Principal amount or Finance charge or on both i.e. Lease rent.




Varsha Kalantri
Trainee


[ Scorecard : 40]
Posted On 23 February 2010 at 16:16

Originally posted by : Varsha Kalantri

What is the TDS rate on Lease Rental payment. Whether on lease rents TDS is applicable.

 This is for vehicles acquired on finance lease. On  which it is to be deducted Principal amount or Finance charge or on both i.e. Lease rent.




Varsha Kalantri
Trainee


[ Scorecard : 40]
Posted On 23 February 2010 at 16:18

Originally posted by : Varsha Kalantri

What is the TDS rate on Lease Rental payment. Whether on lease rents TDS is applicable.

 This is for vehicles acquired on finance lease. On  which it is to be deducted Principal amount or Finance charge or on both i.e. Lease rent.




Aditya Maheshwari
CA in Practice


[ Scorecard : 34868]
Posted On 23 February 2010 at 16:31

Then TDS should be deducted @ 2% u/s 194I as hire of machinery




CA Sumit Arora
CA


[ Scorecard : 1384]
Posted On 24 February 2010 at 11:42

Yes it is 2% on hiring of plant & Machinery. 




Poornima
Search on.... for knowledge


[ Scorecard : 129]
Posted On 24 February 2010 at 14:11

Originally posted by : Varsha Kalantri




Originally posted by : Varsha Kalantri






What is the TDS rate on Lease Rental payment. Whether on lease rents TDS is applicable.






 This is for vehicles acquired on finance lease. On  which it is to be deducted Principal amount or Finance charge or on both i.e. Lease rent.

TDS should be deducted @ 2 % on Lease rent.




CMA Ramesh Krishnan
Cost & Management Accountant


[ Scorecard : 62387]
Posted On 24 February 2010 at 20:59

Sec.194I ,rate 2%



There are 11 Replies to this message






Related Files








Related Threads


Post your reply for What is the TDS rate on Lease Rental payment



Your are not logged in . Please login to post replies

Click here to login


Not a member yet ?? Click here to signup

Message







    

  • Use thank button to convey your appreciation.
  • Maintain professionalism while posting and replying to topics.
  • Try to add value with your each post.



Forum Home | Forum Portal | Member Control Center | Who is Where | Popular Threads | Today's Topic | Recent Posts | Today's Posts | Post New Topic | Thread With Files | Top Threads This Month | Forum Stats | Unreplied Threads

back to the top