If an assessee is paying Rs. 15,000/- as rent on Plant & Machinery, every month from April 2009 to March 2010. Then what will be the rate at which TDS will be deducted. Plz support your answer.
Thanking You.
Nitesh (Articled Assistant) (61 Points)
12 February 2010If an assessee is paying Rs. 15,000/- as rent on Plant & Machinery, every month from April 2009 to March 2010. Then what will be the rate at which TDS will be deducted. Plz support your answer.
Thanking You.
Amir
(Learner)
(4016 Points)
Replied 12 February 2010
Dear Nitesh,
For April to September, rate of TDS was 10% u/s 194 I, on Plant & Machinery...
Text of 194 I - “(a) ten per cent for the use of any machinery or plant or equipment;
From October onwards, rate of TDS is 2% u/s 194 I, on Plant & Machinery..
Text of 194 I - (a) two per cent for the use of any machinery or plant or equipment;
C.Balaji
(Learner)
(1867 Points)
Replied 13 February 2010
Mr. Nitesh...
Completely agree with Mr. Amir brother....
April - September 2009, TDS rate - 10% u/s 194 I, on Plant & Machinery...
October 2009 onwards, TDS rate is 2% u/s 194 I, on Plant & Machinery..
C.Balaji
(Learner)
(1867 Points)
Replied 13 February 2010
Please see this attachment....
Source: caclubindia....
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
