16 July 2012
In my opinion it should be u/s 194C, as you are entering into contract for keeping the goods in warehouse, and the control of the warehouse is not shifted, so it is not Rent but a contract only.
16 July 2012
in my opinion it should be deducted U/s 194-I because as per the provisions any income by way of rent shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, deduct income tax thereon
The term rent as per 194I means any pay by whatever name called,under any lease,sublease,tenancy or any other agreement or arrangement for the use of any building or land. There fore the warehousing charges will be subject to deduction of tax under sec 194I---Circular no. 718,dated August22,1995.
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