Hello friends,
please help me to solve the following query
suppose a bank is paying Rs. 24500 p.m. as generator rent to an individual. will that be covered under section 194C or 194I?
thanking in anticipation
5 Replies
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 30 June 2012
it will covered under section 194I
Arora sir can you explain why 194C?
Aarush
(Delhi)
(1566 Points)
Replied 02 July 2012
194I - Threashold limit 180000 from 01.07.2010 - TDS on rent of Plant & Machinery.
CA Pradeep Kumar Rajput
(CA/CS/CMA)
(4460 Points)
Replied 02 July 2012
if you are maintaining the Genset and incurring all expenses like diesel then it is rent and covered under 194I
if the receiver of money maintaining all the expenses then it will covered unnder 194C
Recent Topics
- RCM applicability if received from registered deal
- Gst- bill to ship to
- TDS and GST ITC on Membership fees to club
- ITC on Canteen Services by Outsiders
- STPI/Non-STPI registration
- 6 DIGIT HSN CODE QUERY
- TDS on Telephone charges and Internet charges
- CGT on Policies purchased in LIC International whe
- RCM Rate on GTA Services
- NRI received income tax notice 161(1a)
Related Threads
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert14 February 2025 -
Survey, Search and Seizure under Income Tax Act 1961
CA Hari Agarwal
CAclubindia
