can u please tell me the defination of epuipment falls under section 194 I of the Income Tax Act ?
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Section 194 i
Replies (2)
"equipment" is not defined in the IT Act.
definition as per Oxford Advanced Leaner's Dictionary is --
"the things that are needed for a particular purpose or activity"
a useful piece of equipment for the kitchen
office equipment
new equipment for the sports club
payment made by construction company as rent of shutturing goods falls under 194 i
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