05 May 2014
Dear sir i need a clarification regards TDS. Our company takes servers from third party on monthly rental basis aprox..22500/pm ..thirty issued invoices.so inthis regard how much rate will take to deduct TDS and which section should apply..plss clarify sir ...
05 May 2014
no sushil. it is 2% only. please refer the text of the section:
" Any person, not being an individual or a Hindu undivided family, who is responsible for paying to 80[a resident] any income by way of rent81, shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, 82[deduct income-tax thereon at the rate of—
[(a) two per cent for the use of any machinery or plant or equipment; and
(b) ten per cent for the use of any land or building (including factory building) or land appurtenant to a building (including factory building) or furniture or fittings:]]"
CAclubindia
