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Tds

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20 November 2012 whether moulded plastic crates taken on rent,used for material handling purpose are subject to tds u/s 194I @ 2% being as plant/machinery/equipment or it should be 10% being as furniture/fixture as per income tax act.
pls suggest whether these crates qualify as equipments or plant of fixtures or machinery, so that it may help me with appropriate rate of deduction
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
20 November 2012 In my view these are subject to TDS deduction @2% u/s 194I being equipment. These can not come under furniture and fixtures.
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