03 March 2010
Belated Holi wishes to people responding/merely reading and moving on. Parking Fee paid by client to the owner of the Parking space attracts TDS @ what rate? It's a part of the lease agreement and specifically provides for a parking fee over and above the Rent payable for the office Space.
03 March 2010
Dear Shyam, It's part of the agreement though an amount has been specifically stated as Parking Fee. It's NOT INCLUDED in the 'Rent Payable'.
Substance over form should prevail. Bifurcating and amount and using a different nemenclature does not alter the nature of the transaction.
"Rent" would ordinarily mean, consideration for use of immovable property. The nature of property may be different like dwelling house, factory, godown and even will encompass parking space.
CAclubindia
