If an assessee is paying Rs. 15,000/- as rent on Plant & Machinery, every month from April 2009 to March 2010. Then what will be the rate at which TDS will be deducted. Plz support your answer.
Thanking You.
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Replies (3)
Dear Nitesh,
For April to September, rate of TDS was 10% u/s 194 I, on Plant & Machinery...
Text of 194 I - “(a) ten per cent for the use of any machinery or plant or equipment;
From October onwards, rate of TDS is 2% u/s 194 I, on Plant & Machinery..
Text of 194 I - (a) two per cent for the use of any machinery or plant or equipment;
Mr. Nitesh...
Completely agree with Mr. Amir brother....
April - September 2009, TDS rate - 10% u/s 194 I, on Plant & Machinery...
October 2009 onwards, TDS rate is 2% u/s 194 I, on Plant & Machinery..
Please see this attachment....
Source: caclubindia....
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