Dear all,
Is TDS u/s 194I applicable in case of rent paid to a bank towards Safe deposit locker facility (bank locker rent) ?
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Tds - 194i
Replies (3)
Yes , TDS is required to be deducted if Locker Rent is exceed Rs.1,80,000/- during a FY. Since, Locker is Storage "equipment". TDS will be deducted @ 2%.
No TDS should not deducted because it is payment towards bank
No tds to be deducted....payment to banking co, banks, public financial institutions are not subject to tds
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