Genset rant cover under which section under sec 194I or 194C
Please provide me all details for above matter in different conditions.
9 Replies
Aditya Nalpet
(Articled Assistant)
(61 Points)
Replied 15 October 2014
As per my knowledge it is covered under 194I(a) - rent on plant and machinery.
Shridhar
(a/c executive)
(31 Points)
Replied 15 October 2014
As rent on plant & machinery and rent on
property & furniture attracted different rate of
TDS , there was lot of confusion which
resulted in incorrect deductions leading to
unintentional defaults .
This has now been addressed and from the
FY : 2013- 14, Section 194I ( Rent Payment )
has now been bifurcated into two sections as
under :
194I ( a) ? Rent for Plant & Machinery ?
2 %
194I ( b) ? Rent for land, building &
furniture ? 10%
Sandip R Lathiya
(Executive)
(442 Points)
Replied 15 October 2014
It's is covered under renting of P&M
CA. Vaibhav Moholkar
(Proprietor)
(37 Points)
Replied 15 October 2014
Genset fall under P&M. As there is separate section of TDS for deducting TDS for payment of Rent on P&M,in my opinion, TDS will be deducted of P&M.
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