According to Agarwala, there could be another instance where TDS is not deductible despite monthly rent being more than Rs 50,000. This situation arises when the landlord has signed separate rent agreements with his/her tenants and the share of e...
Tax (TDS) Deduction Rates Rent for plant/ equipment/ machinery- 2% TDS on the rent amount paid. Rent for land/ building/ furniture/ fittings- 10% TDSon the rent amount paid. Individual/ HUF not liable to tax audit - 5% TDS on the rent paid in cases where more than `50,000 is paid...
The Assessing Officer, at the time of the course of the survey action, sees that the taxpayer had created some payments under various expenses to which provisions of TDS apply, and the taxpayer had not deducted TDS from such payments, like storage charges, which were like rent paid...