Applicability of tds on cold storage charges u/s 194c or 194i & rate of tds

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Chief Financial Officer
31 Points Joined September 2009

An Limited Company keeping their agricultural items (Onion, Garglic & other agricultural produced) in cold storage of an private Limited Company & paying cold storage charges / rent on per kg basis. 

CBT Circular No. 1/2008 dt 10.01.18 and explanation (1) of Section 194I are creating confusion regarding applicablity of TDS Section & rate of TDS.

So, please let me know applicability of TDS u/s 194C or 194I & rate of TDS.

Mohan Jain

Mob. No. 9755354773

Email ID: jain_mohan @ yahoo.co.in

 

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On 08 December 2018 at 10:29 Report
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SEO Sai Gr. Hosp.
208776 Points Joined July 2016

As you are paying remuneration on Kg. basis, its not rent; but storage charges and hence as per circular no. 1/2008, TDS u/s. 194C will be applicable.

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On 08 December 2018 at 11:40
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2 Points Joined December 2018
section 194C applicable in this case
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On 10 December 2018 at 23:34
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Chartered Accountant
162 Points Joined April 2012
  1. Section 194C is applicable 
  2. TDS Rate 2% as the cold storage is of a private limited company (as described in your query)
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On 11 December 2018 at 19:47


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