My client stored their material in Public bonded ware house after importing the material and ICD charge the bill as storage charge on the bill including insurance and service tax.
I like to know, The TDS should be deducted u/s 194C or 194I ???
This is urgest, pls mail or reply at jagan_gps @ yahoo.com
According to explanation to sectoin 194-I
Rent means any payment by whatever name called, under any lease,sub-lease, tenancy or any other agreement or arrangement for the use of any-
a) land
b) building (including factory building) etc.
Tds is to be deducated on net amount (if given separately on bill) i.e.
Gross amount charged xxx
less: service tax xxx (CIRCULAR NO. 4/2008, DATED 28-4-2008)
less: insurance xxx
net amount xxx
if not separately given in bill on full amount.
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