Rent definition for tax withholding covers payments for specified asset use, regardless of whether the payee owns them. "Rent" for TDS/TCS purposes includes any payment, by whatever name called, under a lease, sub-lease, tenancy, or other arrangement for use of land, ... Summary
Rent definition for tax withholding covers payments for specified asset use, regardless of whether the payee owns them.
"Rent" for TDS/TCS purposes includes any payment, by whatever name called, under a lease, sub-lease, tenancy, or other arrangement for use of land, buildings, appurtenant land, machinery, plant, equipment, furniture, or fittings, irrespective of payee ownership. Under the specified withholding category, only payments relating to land, buildings, or land appurtenant to buildings are treated as rent. The earlier Income-tax Act definition similarly covers both immovable and specified movable assets.
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