194I, same person providing building and machine
This query is : Resolved
15 May 2023
If a person providing building on rent of Rs. 15,000 Per month + A machine on rent of Rs. 8,000 per month.
Will TDS liability arise on lessee??
Will TDS liability arise on lessee??
15 May 2023
Yes, if the tenant of both the assets is also same.
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16 May 2023
The yearly limit of Rs.2,40,000 is for section 194I. Therefore, your case is liable to TDS. However, the rate of TDS shall be 10% on Building Rent and 2% on machinery rent. The TDS rate prescribed are minimum and if higher deduction is made there is no bar.
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