https://www.taxtmi.com/caselaws?id=339409 For TDS purposes, long-term lease transactions must be split between capital payments for acquisition of leasehold rights and recurring consideration for use of land. Lump sum lease premium and instalments towards acquiring leasehold rights were treated as capital in nature and not rent under Section 194-I, while annual lease rent payable for continued use of land was treated as rent and liable to TDS. The authority was also not regarded as a municipality or local authority for the claimed exemption. Interest on overdue lease payments and related bank interest fell within the exemption under Section 194A(3)(f), so no TDS applied to those qualifying interest payments. en-us Thu, 16 Feb 2017 00:00:00 +0530 Tue, 09 May 2017 17:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339409 For TDS purposes, long-term lease transactions must be split between capital payments for acquisition of leasehold rights and recurring consideration for use of land. Lump sum lease premium and instalments towards acquiring leasehold rights were treated as capital in nature and not rent under Section 194-I, while annual lease rent payable for continued use of land was treated as rent and liable to TDS. The authority was also not regarded as a municipality or local authority for the claimed exemption. Interest on overdue lease payments and related bank interest fell within the exemption under Section 194A(3)(f), so no TDS applied to those qualifying interest payments. Case-Laws Income Tax Thu, 16 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339409