Warehousing & Storage
This query is : Resolved
Hemal Parikh
(Querist)
16 November 2007
Hi,
Currently my client is owning a warehousing and which is given on rent for storage purpose.
What percentage of TDS should be deducted by lessor.
He is individual with receipt less than 10 lacs.
I will appreciate your answer supporting case law.
Currently my client is owning a warehousing and which is given on rent for storage purpose.
What percentage of TDS should be deducted by lessor.
He is individual with receipt less than 10 lacs.
I will appreciate your answer supporting case law.
Amarjeet Singh
(Expert)
16 November 2007
TDS shall be deducted of your client as TDS is deducted by lessee not by lessor.As your client is individual having income less than Rs 1000000 applicables rate for the financial year 07-08 is 15.45% u/s 194I
jatin kapoor
(Expert)
16 November 2007
agree with amarjeet singh
18 November 2007
I agree with Mr amajeet.Pl.See also circular No:718-dated 22.8.1995-question no 2
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