13 January 2015
If two separate agreements are made each in respect of Plant&machinery AND Building,,,then will the exemption limit of Rs.1,80,000 u/s 194I(rent) be allowed individual on the above assets or aggregate??
Thank you...
the Concept of TDS is Gross Amount exceeding Rs. 180000/- in respect of an Assessee which means if The Assessee is same for both the Agreements. You must club the Rent Paid in respect of both Agreement and consider the exemption limit of Rs. 180000/-.
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