SEC 194C OR 194I
This query is : Resolved
CA JAIPRAKASH
(Querist)
23 March 2009
Dear all,
i want to know what is the rate of tds to be deducted on payment made to port office for ship landing fees.
will it be a contract or will it be rent.
i want to know what is the rate of tds to be deducted on payment made to port office for ship landing fees.
will it be a contract or will it be rent.
CA Tilak Raj Sharma
(Expert)
23 March 2009
194C.
CA JAIPRAKASH
(Querist)
23 March 2009
plz give citation in this regard
23 March 2009
Section 194I, defines Rent as, any payment under lease, sub-lease, tenancy or any other agreement or arrangement for the use of land, building, including factory building, P&M,and F&F. so the above case doesn't comes under this, so 194I will not be applicable.
so, 194C as it seems to be contract only.
Don't remember the case law, but CBDT in Circular No.718 dated 22 august 1995 ahs cleared the fact.
so, 194C as it seems to be contract only.
Don't remember the case law, but CBDT in Circular No.718 dated 22 august 1995 ahs cleared the fact.
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