Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2016 Under which section TDS is to be deducted on rent paid to cold storage?
Further who will be liable to deduct TDS if rent charges are first paid to cold storage by C&F Agent and thereafter the rent is reimbursed by the company to C&F Agent?

Rupesh Jain

Rupesh Jain (Expert)
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13 June 2016 TDS deducted u/s 194I if your rent exceeds Rs. 180000/- in a year then tds will deducted @105 if PAN available otherwise tds @ 20% will be deducted.

Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2016 But somewhere it is written that it is a contractual payment and not for use of building and therefore TDS is to be deducted u/s 194C?
Also kindly answer the second question also? whether C&F would be liable to deduct TDS?

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Rupesh Jain

Rupesh Jain (Expert)
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13 June 2016 its depend on the service if you are taking the building then its come under 194 I if you are taking cold storage service then its come under 194C. and if C & f pay the rent the C & f deduct the tds and company not deduct the tds on payment to the C & f.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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13 June 2016 Tds on rent falls under sec 194I Tds to be deducted 2% on Renting of Machinery/plant/equipment if Threshold limit exceed Rs.180000/- P.A in Financial year.