194I, same person providing building and machine

This query is : Resolved

shivam gupta (Querist)
Follow

15 May 2023 If a person providing building on rent of Rs. 15,000 Per month + A machine on rent of Rs. 8,000 per month.
Will TDS liability arise on lessee??

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

15 May 2023 Yes, if the tenant of both the assets is also same.

Message likes : 1 times

PARAS CHHAJED

PARAS CHHAJED

(Expert)
Follow

16 May 2023 The yearly limit of Rs.2,40,000 is for section 194I. Therefore, your case is liable to TDS. However, the rate of TDS shall be 10% on Building Rent and 2% on machinery rent. The TDS rate prescribed are minimum and if higher deduction is made there is no bar.