12 October 2013
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 party.
12 October 2013
Section 194-C Contract Payments, makes it to be applied differently. 1% for contracts received from Individuals/HUF and 2% in case of others.
12 October 2013
Renting is never covered by sec 194C as it is in relation to works contract and renting does not fit in the definition of works contract u/s 194C.