SIR WHAT IS LIMIT ON WHICH TDS ON RENT IS NOT APPLICABLE FOR A PARTNESHIP FIRM
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Tds on rent
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Rs. 1,80,000/- as per section 194-I of IT Act.
THANK U SIR
Most Welcome......
Under Section 194 I for Rent - TDS is 10% and exemption limit is 180,000
For Rent on Plant & machinery TDS is 2%. and exemption limit is 180,000.
Rent inlcudes all type payment made to the landlord such as service charge and maintenance charges etc.
Cheers...
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