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Tds- query

TDS / TCS 514 views 4 replies

Hello All,,

 

I am paying Rent on Immovable Property from last 2years @ 25000/- p.m (300000.00 per year) after deducting TDS (as exceeds the threshold limit of Rs 180000.00)

 

Now I Hire a Generator on Rent @ 11000/- p.m. (132000.00 per annum) within the threshold limit.

 

Should I need to deduct TDS on Plant & Machinery ???

 

 

Thanks

Regards

Deepak Sharma

Replies (4)

No you don't have to deduct TDS on rent of plant & Machinery.. as the limits is Rs. 180000.

Is the generator taken on rent from the same person from whom property is taken on rent. If yes then liable for TDs. If no then not liable 

No, you wont have to deduct TDS on the rent of generator. However, if the rent is paid to the same person to whom you are paying rent on immovable property, then you would have to deduct TDS on generator also as the total payment under the section exceeds the threshold limit. Moreover, the rent on generator can be deducted @ 2%.

No, Owner of Both assets are different !!

 

Thank you all for your valuable time

 

Regards

Deepak Sharma


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