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of <h1>TDS on rent under Section 194I: 10% for land/buildings/furniture, 2% for machinery; threshold ?50,000 monthly.</h1> Any person other than an individual or HUF who pays rent to a resident must deduct tax at source when crediting or paying the rent. Tax is deducted at 2% for use of machinery, plant or equipment and 10% for use of land, buildings (including factory buildings), land appurtenant, furniture or fittings. No deduction is required where rent credited or paid for a month (or part month) does not exceed ?50,000. An individual or HUF is liable to deduct only if turnover/gross receipts exceed specified thresholds. Payments to certain business trusts (REITs) are exempt. 'Rent' covers payments for use of land, buildings, machinery, plant, equipment, furniture and fittings; credits to suspense accounts are treated as payment.
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