We have partnership transport company tds rate about gps tracker rent paid


This query is : Resolved 

Quick Summary
This discussion clarifies the accounting treatment and TDS (Tax Deducted at Source) implications for monthly GPS tracker rental payments made to a transport company. It addresses whether to debit rent expenses and the applicable TDS rates under Section 194I of the Income Tax Act, distinguishing between 2% for plant and machinery and 10% for land or building rent, subject to threshold limits.

28 May 2021 we have paid gps tracker device rent per month please let me know which expenses we have debit and % of tds deduct

28 May 2021 Debit to rent expenses. TDS @2% u/s 194I subject to crossing of threshold limit of Rs.2.4 lacs pa

28 May 2021 tds 2% or 10% please verify under 194I rate is 10% then why deduct 2%

28 May 2021 10% in case of Rent of land or building or furniture or fitting and
2% in case of Rent of plant and machinery


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