Company X has entered into a leave & license agreement with two individuals ( Owners of Office property). Total payment is exceeding 1,80,000 p. a.. The cheques are made in the name of only one individual. Does this attracts TDS on Rent @ 10%.
Sal (Self employed) (91 Points)
01 February 2012Company X has entered into a leave & license agreement with two individuals ( Owners of Office property). Total payment is exceeding 1,80,000 p. a.. The cheques are made in the name of only one individual. Does this attracts TDS on Rent @ 10%.
Vineet Goyal
(Assistant Manager - Finance & Accounts)
(702 Points)
Replied 01 February 2012
Yes. TDS needs to be deducted @ 10% u/s 194I
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