Tds decution

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1 Points Posted on 11 January 2021
want to know how much tds will decuted on leasing container rent and under which section it will come.
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On 11 January 2021 at 17:34 Report
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This discussion clarifies the Tax Deducted at Source (TDS) applicable to container rent. It confirms that Section 194-I of the Income Tax Act governs this, with a standard TDS rate of 2% on rent for plant and machinery. However, if the rent pertains to furniture or buildings, the rate is 10%. The 10% rate specifically applies to plant and machinery if the rent exceeds ₹2,40,000 annually.

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Chartered Accountant
24588 Points Posted on 11 January 2021
Under section 194I @ 2%
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On 11 January 2021 at 19:02
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113 Points Posted on 11 January 2021
Tds on container rent is 10% if it exceeds 240000
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On 11 January 2021 at 23:18
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Chartered Accountant
24588 Points Posted on 12 January 2021
Yes ,10% is on furniture, building etc.
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On 12 January 2021 at 18:24
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17269 Points Posted on 12 January 2021
194 I of the Act. It provides that any rent paid for plant or machinery or equipment then TDS is to be deducted at 10%..
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On 12 January 2021 at 19:39

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