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of <h1>Rent Payments Trigger Tax Deduction: 2% for Machinery, 10% for Land/Buildings Under Section 194-I Rules</h1> The text provides a comprehensive overview of Section 194-I of the Income Tax Act regarding Tax Deduction at Source (TDS) on rent. It details the applicability to entities paying rent, TDS rates (2% for machinery, 10% for land/buildings), threshold limits, and exemptions. The document covers various scenarios including rent for different assets, advance rent, and specific exceptions for government entities, international financial centers, and special funds. Key points include TDS calculation rules, payment timing, and notable circulars clarifying tax treatment in different rental scenarios.
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