Tds on rent : important


This query is : Resolved 

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 March 2014 Dear Sir

We are a partnership firm in the first year of business for F.Y. 13-14.

We are required to pay Rent to A Ltd.

Rent for use of Office Space - Rs.60,000
Rent for use of (HVAC, power back up other equipments) - Rs.202000

Our query is, whther TDS is to be deducted on both the payments? Please explain

Both rents have been executed in two separate agreements.

Please help

30 March 2014 my view is that it should be deductible on the whole of the amount.

the section, though provides for two different rates of deduction, the deductibility is based on amounts paid to a single payee.

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 March 2014 What rate of TDS showld be deduted?

10% or 2% ???

30 March 2014 deduction can be made on different rates based on separate agreements.

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 March 2014 What rate of TDS showld be deduted?

10% or 2% ???

30 March 2014 10% on office rent and 2% on equipment

chetan soni (Expert)
30 March 2014 For immovable property rent the like land & building its 10% and for machinery & equipments its 2%.


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