TDS on lease rent on plant & machinery
This query is : Resolved
20 August 2009
We have leased out a machinery to one of the customers of our foreign supplier. The machinery is actually used in India.
Lease rent is received in foreign currency. Please clarify whether this transaction attracts TDS? if yes at what percentage?
Lease rent is received in foreign currency. Please clarify whether this transaction attracts TDS? if yes at what percentage?
20 August 2009
Yes, TDS shall be applicable as per section 194I and if it is only plant & machinery is leased out, rate is 10%. This is because the machine is used in india and qualifiying income accrued in india.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
