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of <h1>Rental Proceeds from Leased Building and Equipment Treated as Composite Rent Under Section 194-I: Tax Deduction Details Explained.</h1> When a building is leased along with machinery or equipment, rental proceeds are treated as composite rent under Section 194-I. If separate agreements exist for the building and other assets, tax is deducted at 10% for the building and 2% for machinery or equipment. Without separate agreements, tax deduction depends on the primary element of the lease. If machinery or equipment rental is incidental to the building rental, a 10% tax is deducted.
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