Rate of TDS and limit on which TDS is deducted

A company hire 5 Airconditioners on rent and paying Rs. 7000/- Qtrly. Is any requirement of TDS deduction?

What is the maximum limit of amount on which TDS should be deducted in above case and at what rate????????????

Replies (8)

TDS not applicable up to 180000 P.A. on rant

 

Yes tds have to be deduct u/s194I Rent of Machinery @ 2 % if the annual rent of machine crossed to 1,80,000/-. Its not applicable in your case because limit did not crosses 1,80,000/- per annum

The limit of Rs. 1,80,000 is on rental premises only .

Is on machines the same limit applicable?

yes its same.

Thanks a lot

for plant / machinery& equipments  limit is 180000 @ 2% & for others 180000 @ 10%.

thanks a lot

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