What is the TDS rate on Lease Rental payment


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

 
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Analyst

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

 
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Learner

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.

 
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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.

 
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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.

 
Reply   
 

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.

 
Reply   
 
CA in Practice

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

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

 
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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.

 
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Cost & Management Accountant

Sec.194I ,rate 2%

 
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