194 - c
This query is : Resolved
10 July 2012
A company hires many spare parts for computer like RAM, DVD combo drive, keyboard, mouse etc from an individual. Annual hire charges is Rs 423452. Company is deducting TDS as per 194 c. is 194 - i not applicable?
10 July 2012
Section 194I will be applicable. Rate of TDS will be 2% and threshold limit Rs 1.80 lacs p.a.
Meaning of Rent for the purposes of Section 194-I: any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of (either separately or together) any of the following whether any or all of them are owned by the payee or not:
1. Land
2. Building including factory building
3. Land appurtenant to a building including factory building.
4. Machinery
5. Plant
6. Equipment
7. Furniture
8. Fittings
Meaning of Rent for the purposes of Section 194-I: any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of (either separately or together) any of the following whether any or all of them are owned by the payee or not:
1. Land
2. Building including factory building
3. Land appurtenant to a building including factory building.
4. Machinery
5. Plant
6. Equipment
7. Furniture
8. Fittings
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