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TDS on lease rent on plant & machinery

This query is : Resolved 
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(Querist)
20 August 2009 We have leased out a machinery to one of the customers of our foreign supplier. The machinery is actually used in India.
Lease rent is received in foreign currency. Please clarify whether this transaction attracts TDS? if yes at what percentage?
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UMA SHANKER SHARDA

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UMA SHANKER SHARDA (Expert)
20 August 2009 Yes, TDS shall be applicable as per section 194I and if it is only plant & machinery is leased out, rate is 10%. This is because the machine is used in india and qualifiying income accrued in india.
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