Warehousing & Storage

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(Querist)
16 November 2007 Hi,

Currently my client is owning a warehousing and which is given on rent for storage purpose.

What percentage of TDS should be deducted by lessor.

He is individual with receipt less than 10 lacs.

I will appreciate your answer supporting case law.
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Amarjeet Singh

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Amarjeet Singh (Expert)
16 November 2007 TDS shall be deducted of your client as TDS is deducted by lessee not by lessor.As your client is individual having income less than Rs 1000000 applicables rate for the financial year 07-08 is 15.45% u/s 194I
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jatin kapoorpro badge

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jatin kapoorpro badge (Expert)
16 November 2007 agree with amarjeet singh
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KAAPIL

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KAAPIL (Expert)
16 November 2007 I second Mr. Singh.
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o.velavan

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o.velavan (Expert)
18 November 2007 I agree with Mr amajeet.Pl.See also circular No:718-dated 22.8.1995-question no 2

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