Clarification

194I is a section under which tax is deducted and 94I is a section code to be used in the TDS return.

But from FY 2013-14 onwards, the code has been bifurcated into 4IA and 4IB.

4IA stands for sec. 194I(a) - Rent from plant & machinery @ 2%.

4IB stands for sec. 194I(b) - Rent from land & building/furniture & fitting @ 10%.

Dear Ashok,

194I is section and 94I code for making payment of tds on rent.