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TDS on rent

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Imran (Querist)
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29 June 2010 We are having a propane gas tank in our factory premises and we have to pay rent for right to use of propane in our premises @ Rs.132000/- per anum. What should be the TDS for this?

Shyam Lal Naik

Shyam Lal Naik (Expert)
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29 June 2010 2% u/s 194I.

This rate is applicable wef 01/07/2010

Imran (Querist)
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29 June 2010 thanks a lot Shyam Lal Naik sir. What is the TDS in may 2010.

Shyam Lal Naik

Shyam Lal Naik (Expert)
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29 June 2010 It was 10%

Imran (Querist)
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29 June 2010 thanks a lot sir.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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29 June 2010 Rent for machinery will be 2% not 10%

Imran (Querist)
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29 June 2010 here we are not using any of his machinery. But we have to pay rent as right to use.

Shyam Lal Naik

Shyam Lal Naik (Expert)
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29 June 2010 Agree with Mr. Bansal.

The rate of 10% has been reduced to 2% wef 01.10.2009.

The rate for May'10 shall be 2%.

Imran (Querist)
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29 June 2010 thanks sir

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