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Section 194i(a) of income tax

Vijay Mohan (637 Points)

28 March 2022

in 26 AS TDS was deducted u/s
194i(a) .shown.
under what head it will shown
.gross receipts was 42000.

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Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 28 March 2022

If it is for land or building then you can show under " Income from house property"

If it is for plant and machinery then it should be shown under IFOS.

Generally the limit for Tds on rent is 2.4lacs per annum under this section 194I(a)

CA Puja Sharma (Chartered Accountant) (4874 Points)
Replied 28 March 2022

194I(a) is for rent on Plant & Machinery. It can be shown either as Business Income or Other sources depending upon the nature of business of the service provider.

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