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.
3 Replies
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....
Attached File : 14 10 38 revised tds rate chart fy 2009 10.pdf downloaded: 217 times
Recent Topics
- Avoiding tax audit in case of intraday equity loss
- Form 3CEAB
- Form 3CEAA and Form 3CEAB
- DIR 3 Web KYC
- 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
Related Threads
CAclubindia
