21 January 2011
A Pvt Ltd. company is paying rent to an individual for agri. land. Is the company require to deduct tax at source for the rent? The land is used for agri purpose only?
21 January 2011
Explanation (i)(a) of section 194I has used the term "any land".In view of the above, as per my understanding, income tax has to be deducted subject to other conditions of the said section.