TDS on Rent comes under section 194-I of the Income tax Act. The newly amended 194-I section states that, the renting of Plant/Machinery/Equipments for all parties will entertain TDS at 2% and renting of Land/Building/Furniture/Fittings at 10% for all types of assessees. Applicability The provision are applicable only in cases where the person making the payment of rent is an individual or HUF having turnover of more then Rs. 40 Lakhs from business or gross .....
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