Rent

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....e or draft or by any other mode, whichever is earlier, ^3[deduct income-tax thereon at the rate of- ^7[(a) two per cent. for the use of any machinery or plant or equipment; and  (b) ten per cent. for the use of any land or building (including factory building) or land appurtenant to a building (including factory building) or furniture or fittings:]] ^12[Provided that&nbsp....

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....ust, being a real estate investment trust, in respect of any real estate asset, referred to in clause (23FCA) of section 10, owned directly by such business trust.] Explanation.-For the purposes of this section,- ^6[(i) "rent" means any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of (either separately or togeth....

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....1994 w.e.f. 01-06-1994 2. Substituted vide Section 77 of the Finance Act, 2003 w.e.f. 01-06-2003 before it was read as, "Any person, not being an individual or a Hindu undivided family, who is responsible for paying to any person" 3. Substituted vide Section 35 of the Finance Act, 1995 w.e.f. 01-07-1995 before it was read as, "deduct income-tax thereon ....

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....h building is owned by the payee;" 7. Substituted vide Section 62 of the Finance (No.2) Act, 2009 w.e.f. 01-10-2009 before it was read as, ^"^4[(a) ten per cent for the use of any machinery or plant or equipment; (b) fifteen per cent for the use of any land or building (including factory building) or land appurtenant to a building (including factory building) or f....