Tds 194i

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Vaibhav Agarwal (Querist)
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11 January 2015 Is the exemption limit of Rs 180000 u/s 194I(rent) available individually for Plant & machinery AND Land or aggregate??

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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11 January 2015 it is the limit for one Single person under section 194I. If aggregate of payments to one person under section 194I is more than Rs 1.80 lacs in a year then TDS is required to be deducted on total amount. So Rent of Machinery and rent of Land will both be taken to determine the threshold limit. Also remember that TDS to be deducted on amount excluding Service Tax.

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