194 - c

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Prasanna (Querist)
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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?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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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

Prasanna

Prasanna (Querist)
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10 July 2012 Thanks a lot for clarifying sir

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