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.
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