TDS

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RASHID HUSSAIN (Querist)

06 July 2009 sir,
a company which is engaged in development of residential buildings, they used to pay rent to the owners of houses for shifting from one place to another.
is this payment liable to TDS u/s 194I.

saurabh

saurabh (Expert)

06 July 2009 Explanation,For the purposes of section 194I,
rent means 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,

(a) land; or

(b) building (including factory building); or

(c) land appurtenant to a building (including factory building); or

(d) machinery; or

(e) plant; or

(f) equipment; or

(g) furniture; or

(h) fittings,

whether or not any or all of the above are owned by the payee;]

In view of the above, TDS is liable to be paid.
Provided that no deduction shall be made under this section where the amount of such income or, as the case may be, the aggregate of the amounts of such income credited or paid or likely to be credited or paid during the financial year by the aforesaid person to the account of, or to, the payee, does not exceed one hundred and twenty thousand rupees :

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