my client is paying rent Rs.55,000 PM. shall he liable to deduct TDS @ 5% OR 10% SINCE RENT IS MORE THAN RS.2,40,000. Both sections are applicable
Replies (3)
Quick Summary
This discussion clarifies the TDS (Tax Deducted at Source) rate applicable to rent payments exceeding Rs. 2,40,000 per annum. For rent on plant and machinery or land/building used for business purposes, the applicable TDS rate is 5%.