Important News
No TDS u/s 194-I of the Income-tax Act, 1961 on Lump Sum Lease Premium Paid for Acquisition of Long Term Lease : Lump sum lease premium or one-time upfront lease charges, which are not adjustable against periodic rent, paid or payable for acquisition of long-term leasehold rights over land or any other property are not payments in the nature of rent within the meaning of section 194-I of the Act. Therefore, such payments are not liable for TDS under section 194-I of the Act.
CBDT CIRCULAR No. 35/2016, (F No.275/29/2015-IT-B) dated October 13, 2016
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