02 June 2017
As per section 194 I
Rent of plant and machinery2%
Rent of land or building or furniture or fitting
10%
or
(5% if rent exceeding Rs 50,000 / month is paid by individual/HUF who are not liable for tax audit) (5% column is added in this budget)
and it should be deducted every month and filed before the due date ie.7th of next month and in case not deducted then there will be penalty of 200 rs per day
03 June 2017
As per the provision Tds needs to be deducted at the time of crediting party or rent or at the time of payment whichever is earlier Tds is to be deducted on the net amount i.e excluding taxes As you also need to see service tax as it may apply in your case
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