tds liability for lease rent

This query is : Resolved

Abhishek singhi (Querist)
Follow

15 February 2011 Sir,
Is lease rent paid to development authorities (e.g. Indore Development authority) and municipal corporations liable to decuct tax

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

15 February 2011 There is no requirement to deduct tax at source if the payee is the Government. In the case of the local authorities and the statutory authorities, there will be no requirement to deduct income-tax at source from income by way of rent if the person responsible for paying it is satisfied about their tax-exempt status under clause (20) or (20A) of section 10 on the basis of a certificate to this effect given by the said authorities. [Circular No.699 dt.30-1-1995].

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok