Applicability of service tax and tds on renting of furniture

[Guest]

does renting out of furniture amounts to services and eligible for tds u/s 194I

[CAGOPALJI AGRAWAL]

TDS provisions are application as per explantion (i) g) to section 194I.

[Ravi Chopra]

Yes, the same is subject to TDS under section 194I and the rate of TDS is 15% of 20% dependent of the status of deductee.

[Guest]

yes renting of furniture attracts tds u/s 194I @ 15%

AI Summary

TDS on rent of movable property: furniture rentals attract withholding obligations and specified deduction rates under the tax code. Renting furniture is treated as a service for withholding purposes and falls within the ambit of 194I, creating an obligation to deduct tax at source on payments for such rent, with the applicable withholding rate linked to the deductee's status.