01 December 2009
up to Rs.1,20,000/- afterthan as per Sec.194I Rent on Plant/Machinery @ 2% & Rent Otherthen Plant/Machinery @ 10%,If PAN not Quoted 20%
02 December 2009
it doesn't matter that rent is booked in cash or though bank , if payment during the year is Rs,120000/-, you are supposed to deduct tax.