At what rate TDS should be deducted if a Company is paying composite rent towards warehouse and machinery installed in that warehouse? The machinery is actually installed to maintain the temperature inside the warehouse. It's a kind of cold storage but not exactly a cold storage.
1 Replies
Rajagopalakrishnan R
(PARTNER)
(1422 Points)
Replied 27 May 2014
Since the basic lease is for warehouse and the machinery is secondary, it is better to deduct the TDS at 10%. In future lease agreements, you can bifurcate the rent for warehouse and amchinery separately if it is imperative
Recent Topics
- Can i declare LTCG income as business income if I
- Stock entry in new software
- I have an EMI collection shop, what is its SAC cod
- Making payment once in quarter possible under QRMP
- Master File Documentation related
- Applicability of 44AD needs clarification
- ITC reversal in GST 3B
- Claim if ITC on stocks 19-2020 conversion from com
- Urgent doubt on GST
- Profit or Loss on Sale of Assets Accounting treatm
Related Threads
CAclubindia
