TDS ON RENT FOR BUILDINGS U/S. 194I

This query is : Resolved

ramaswami (Querist)
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26 October 2009 Dear Sir,

What is the TDS rate to be applied in case of payment to be made to an Individual towards Rent for Buidlings. The monthly rent is Rs 1,80,000/-.
Please clarify as to what rate is to be applied w.e.f 1st OCT 2009

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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26 October 2009 2%

ramaswami

ramaswami (Querist)
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26 October 2009 But as per the TDS rates chart what I am having, the TDS rate is shown as 10% and also is there no Surcharge applicable on this.

Thanks
Ramaswami

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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26 October 2009 Pl see the chart in http://www.simpletaxindia.org/2009/07/new-tds-rate-fy-09-10-after-budget.html

CA. Gurdeep Singh Chawla

CA. Gurdeep Singh Chawla (Expert)
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26 October 2009 2% for the use of any machinery or plant or equipment,
10% for the use of any land or building or furniture or fittings for all persons.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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26 October 2009 I stand corrected. The mistake is regretted.