TDS on Vehicle Yard Rent
This query is : Resolved
24 January 2010
Sir,
I'm working in a NBFC, we are paying approximately 2 Lacs pa to an individual as yard rent for keeping seized vehicles and there's no written agreement on that.I would like to know whether the yard rent payment to him attracts TDS? and what the percentage to levy? please advice.
Regards,
Mahesh G
I'm working in a NBFC, we are paying approximately 2 Lacs pa to an individual as yard rent for keeping seized vehicles and there's no written agreement on that.I would like to know whether the yard rent payment to him attracts TDS? and what the percentage to levy? please advice.
Regards,
Mahesh G
24 January 2010
it is leviable for TDS u/s 194I as it is rent for land.
TDS rate should be 10% from 1 Oct 09.
TDS rate should be 10% from 1 Oct 09.
24 January 2010
Yes.194I 10%
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