Tds On Leave And License Agreement


We have an agreement with the owner for the rental of the place and we also have another contract with the same owner for the payment of the hostel. Now we break down TDS 10% for U/S 194I rent. Please suggest that we must also deduct TDS from the hostel payment, if so, what will be the deduction rate. In accordance with the new amendment to Article 36a (b) (a), Article 36, with the exception of Subsection a, replaces the following clause: (a) where the leave and licence contract does not provide for more than sixty months, with or without a renewal clause; “0.25% of the total; (i) the royalty or rent to be paid under the contract; plus (ii) the amount of the non-refundable deposits or advances, or the pre-application or premium under any name; in addition to (iii) interest calculated at a rate of 10% per annum on the repayable loan or on the pre-paid money, or presented under any name. In accordance with new subsection 2 of section 70 of the Maharashtra Stamp Act, 1958 For documents with a stamp duty of one hundred and forty-eighty rupees, $49 or more than one hundred and ninety, the amount in question is rounded to the following one hundred rupees. Payments for hotel accommodation, which are regularly used, are the type of rent to which TDS is subject. On the other hand, if organisations, tour operators, etc. enter into an agreement with a hotel or group of hotels for the purpose of accommodating staff, customers, etc., at a rate agreed in the contract, this would not fall within the competence of TDS, since the price agreed in the contract would probably be lower than that of regular accommodation. However, staff should keep in mind that the TDS applies during the audit. Company X has concluded a holiday and licensing agreement with two people (owners of office real estate). The total number is more than 1,80,000 p.a. Cheques are issued in the name of a single person. Does this attract TDS on rent @ 10%? Each state in India has its own unique scale to collect stamp taxes in the form of taxes, and we have made the computer available to our users so that they can calculate the stamp duty on holidays and the licensing agreement for The Maharashtra State…

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