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194Ic – Payment Under Specified Agreement

For rents u/s 194-IB, it is necessary to file a challan declaration on Form 26QC. This Form 26QC must be filed within 30 days of the end of the month of TDS withdrawal. The joint development contract is an agreement between two persons, i.e.dem owner of the land or building, and another person authorized to build a real estate project, and in return, he must give a share to the owner or the cash payment must be made. A person who pays rent to the landlord under a Joint Development Contract (JDA) must deduct TDS in accordance with Section 194IC. But if such a payment is made by an employee or individual (representing the company) and later repaid, then no TDS is taxable. However, if this person is required to check u/s 44AB, the TDS is taken. Years: The reception contract is in the type of advertising and the advertising is covered by the contract, and the provisions of paragraph 194C apply. However, it may be specified that if a person used a particular location for the rental and leased it in whole or in part for the installation of a reserve, he would be subject to tDS in accordance with Section 194-I and not section 194C of the Act. Anyone with the exception of the person/HUF who pays an income called rent to another person must reduce the TDS u/s 194I.

On the other hand, if individual hufies are tested below 44AB (a) and b), they must also reduce TDS under u/s 194I. Paying rent has now become an inevitable part of our lives. This payment may relate to the use of personal space, assets or premises and commercial equipment, etc. As all of these activities have increased significantly in recent times, the government has taken steps to maintain an overview of all such operations in the Indian economy, placing the same operations under the umbrella of the SST provisions by Sec 194I, 194IB and 194IC. If an individual/HUF (not subject to the u/s 44AB exam) pays the rent to the landlord is required to reduce the SDS under Section 194IB. Years: According to Circular 715/1995, the department has specified that payments from individuals, with the exception of individuals and hufs for hotel accommodation at regular intervals in the type of rental and are subject to TDS according to section 194-I. However, the department pointed out, in Circular 5/2002, that while the agreement applies only to collective agreements (collective agreements are generally concluded with hotels between companies, tour operators, travel agencies, etc., in order to set only hotel room rates for their executives/guests/clients), this is not interpreted as a regular room and, therefore, TDS is not applicable in such a situation. Therefore, the TDS will only apply to the payment of room rentals at hotels where rooms are taken on a regular basis, but if the agreement applies only to collective agreements, the TDS is not applicable.