Friends
A client of mine has to pay quarry rent (onetime) of Rs 3.5 crore to the 100% Educational Trust registered under Trust & Societies Act.
whether such payment of rent to Educational Trust subject to TDS?
If yes then at what rate?
Please expain it friends..
Indudhar,
You are required to deduct TDS @ 10% u/s 194-I
There is no requirement to deduct TDS if the trust gets the certificate from the Assessing Officer authorizing the payer to deduct no tax. (Sec 197 - read with rule 28AB)
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