Tds decution

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.