We are taken a building for rent from trust what is the TDS Rate shall we Deduct from 1.10.2009 in all cases it is 10% but one of my officer is objecting the tds will differ for Individuals,Company & Trusts so please give me the detailed Chart for Everybody understanding the TDS Chart
11 April 2010
New Amendments for section 194 I AY 2011-12:
Rent - Plant & Machinery 2% Rent - Others 10%
Threshold limit is increased from INR 120000 to 180000
These are applicable for both Individual /HUF and Others like companies.
If PAN is not quoted, TDS @ 20% or rate applicable under respective section, whichever is higher, in all cases. Quoting of PAN is compulsory even when the assessee gives forms 15G / 15H. NO Surcharge / NO Cess.
So as per your query, rate of TDS on Building on Rent is 10%.
CAclubindia
