Definition of rent: expanded to include payments for use of land, buildings, machinery and fittings irrespective of ownership. The Explanation to section 194-I is amended to define rent as any payment, by whatever name called, under lease, sub-lease, tenancy or any other agreement for the use of land, building (including factory building), land appurtenant, machinery, plant, equipment, furniture or fittings, whether used separately or together and whether or not those assets are owned by the payee.