U/s. 194i
This query is : Resolved
12 July 2013
Dear All,
Please advice, we are a company and paying a rent and depositing TDS U/s. 194I. During my preparation of 26Q i have come to know that U/s. 194I is been bifaricate in two part 4IA & 4IB, hope iam right(pls correct me if iam wrong). Now my doubt is what i have to show 4IA or 4IB in my FORM 26Q.
Note : Owner of our Office is an Individual.
Thank you in advance.
Please advice, we are a company and paying a rent and depositing TDS U/s. 194I. During my preparation of 26Q i have come to know that U/s. 194I is been bifaricate in two part 4IA & 4IB, hope iam right(pls correct me if iam wrong). Now my doubt is what i have to show 4IA or 4IB in my FORM 26Q.
Note : Owner of our Office is an Individual.
Thank you in advance.
12 July 2013
Please read Key Features of RPU 3.5 Section
194I has been bifurcated as below:
Select value 4IA from the section code drop down where tax has been deducted under section 194I (a)
Select value 4IB from the section code drop down where tax has been deducted under section 194I (b)
194I has been bifurcated as below:
Select value 4IA from the section code drop down where tax has been deducted under section 194I (a)
Select value 4IB from the section code drop down where tax has been deducted under section 194I (b)
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12 July 2013
4IB for Rent from House Property/Land & Building/Furniture. 4IA for Rent of Plant & Machinery.
194-I. Any person, not being an individual or a Hindu undivided family, who is responsible for paying to a resident any income by way of rent, shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the rate of—
(a) two per cent for the use of any machinery or plant or equipment; and
(b) ten per cent for the use of any land or building (including factory building) or land appurtenant to a building (including factory building) or furniture or fittings.
194-I. Any person, not being an individual or a Hindu undivided family, who is responsible for paying to a resident any income by way of rent, shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the rate of—
(a) two per cent for the use of any machinery or plant or equipment; and
(b) ten per cent for the use of any land or building (including factory building) or land appurtenant to a building (including factory building) or furniture or fittings.
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