TDS Rate
This query is : Resolved
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vidyashree
(Querist)
06 November 2020
Sir,
At what rate the TDS Should be deducted for Warehouse Rent
At what rate the TDS Should be deducted for Warehouse Rent
CA R SEETHARAMAN
(Expert)
06 November 2020
10% TDS applicable under section 194I.
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vidyashree
(Querist)
08 November 2020
Thank u sir
I have been Encountering a problem. Is there Any Difference Between Storage Chargges & Ware House Rent , If there is a Difference At what rate TDS Should be deducted for both.
I have been Encountering a problem. Is there Any Difference Between Storage Chargges & Ware House Rent , If there is a Difference At what rate TDS Should be deducted for both.
CA R SEETHARAMAN
(Expert)
09 November 2020
1)The term ‘rent’ as defined in Explanation (i) below section 194-I means any payment by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of any building or land. Therefore, the warehousing charges will be subject to deduction of tax under section 194-I. Pl refer CBDT CIRCULAR 718 DATED 22/8/1995. 2)If the storage charges is paid towards "cold storage space utilization" 94I will not attract,but 194C applies. Pl refer CBDT CIRCULAR 1/2008 DATED 10/01/2008.
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