We are constructing a factory in our land. wherein a temparary shed is build for preserving the materials by a shamiyana vendor by using pools & sheet for which we are making payment of Rs.13000/- every month. Under which head it is to be accounted (whether hire charges or shed rent or contract payment) and at what rate it will attract TDS.
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TDS on shed rent
Replies (3)
As you are paying RENT, tds should be deducted U/S 194I.
It will come under contract and TDS charged U/S 194C @ 1% / 2% (Indivual,HUF/Company)
| Originally posted by : PAWAN | ||
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It will come under contract and TDS charged U/S 194C @ 1% / 2% (Indivual,HUF/Company) |
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It is Rent, TDS is deductibe U/S 194I, Mr Rajesh is correct
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