If a person pays a rent of 1lakh for plant and 1,10,000 for building (total: 2,10,000) to X, whether TDS u/s 194I applies?
I want to know whether limit of 1,80,000 is available seperately for
(a) plant, machinery and
(b) land, building, furniture
or is it for both (a) and (b) together ?
The payment shall be seen for as made to person wise and not as property wise. Therefore you are required to deduct the tax at source provided your total payment excedds Rs 180000/- p.a. Section 194I defines the different class of properties for the sake of rate of TDS only
TDS on Gross rent.
TDS should be deducted on thew value excluding service tax
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