tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 May 2010
Sir i want to know what is diff. between warehouse rent & cold store rent is there any diff. in deduction of TDS ? if any in which section cold store rent comes & what is rate of TDS ?
Shyam Lal Naik
(Expert)
26 May 2010
In the case warehouse, some particular space is taken fro a consideration. It being in the nature of Rent, Section 194I is attracted, rate being 15%.
On the other hand, in the case of cold storage, the payment is towards composite service cooling charge and preservation. Further no defined space is allocated. The relationship of landlord-tenant is absent. However, this being a service contract, Section 194C is attracted, rate being 1%(in case the deductee is indivisual/huf) and 2%(in any other case).
Please refer: Circular No. 1/2008 dated, 10/1/2008
On the other hand, in the case of cold storage, the payment is towards composite service cooling charge and preservation. Further no defined space is allocated. The relationship of landlord-tenant is absent. However, this being a service contract, Section 194C is attracted, rate being 1%(in case the deductee is indivisual/huf) and 2%(in any other case).
Please refer: Circular No. 1/2008 dated, 10/1/2008
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