Indudhar (Tax Advocate) (427 Points)
27 November 2009Friends
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..
FATEMA
(CHARTERED ACCOUNTANT)
(719 Points)
Replied 02 December 2009
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)
CAclubindia
