Tds u/s 194i - monsoon shed will be covered under which term
This query is : Resolved
02 January 2014
Whether renting of Monsoon shed will come under the definition of Land & building or Plant & machinery?
Because there are two rates of TDS u/s 194I
Land & Building - 10%
Plant & Machinery - 2%
Because there are two rates of TDS u/s 194I
Land & Building - 10%
Plant & Machinery - 2%
02 January 2014
temporary sturtcures are covered under plant and machinery if oyu check for dep purpose so i think it must 2%
wait for others to comment.
wait for others to comment.
02 January 2014
my view is that it a building and therefore should be under 10%. see it another way, what if you construct a moonsoon shed on your on?? will you include it in the plant & machinery or in land and building??
02 January 2014
Nihkil neither there building nor land its not roof top...so i guess it may not fit in land and building.
02 January 2014
Tushar there are two types of monsoon sheds - pakka and temporary.
regardless of that, fact is that monsoon sheds are structures based on land (you cannot say its not land - otherwise where is it ? in air), made of different materials which can be bamboo or tarapulin and in some cases pakka construction. Now is there a definition as what material we have to use to make a building? Is bamboo house not a house??
However, if the structure itself is a temporary one, you can argue that it doesn't form part of building!
regardless of that, fact is that monsoon sheds are structures based on land (you cannot say its not land - otherwise where is it ? in air), made of different materials which can be bamboo or tarapulin and in some cases pakka construction. Now is there a definition as what material we have to use to make a building? Is bamboo house not a house??
However, if the structure itself is a temporary one, you can argue that it doesn't form part of building!
02 January 2014
Since querist must be facing problem when it is kaccha wala and he uses term moonsoon shed which is implied only used for moonsoon purpose ...so woh hawa mein to nahi latkega but will be on support...so it will be plant and machinery can refer dep chart it gives 100% dep
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02 January 2014
ya. totally agreed with that. to further argue your case, expenses on erection of monsoon shed (kacha wala) can be claimed as revenue expenses (Johnson & Johnson Vs ACIT 2013-TIOL-273-ITAT-MUM).
However, renting a pakka shed should attract 10%.
However, renting a pakka shed should attract 10%.
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