194I Of Income Tax Act deals with TDS on Rent Payments like Rent Paid for Plant and Machinery. Buildings, Furniture etc. TDS Rate Applicable on each rent payment when its crosses the threshold limit for that person in a Financial Year.

​If an Individual having business and Previous FY Gross Turnover / Sales / Receipts 
exceeds 1 crore, and if Professional 50 Lakhs Gross Receipts shall deduct the tds for rents.

​Rent on Land, Building, Plant, machinery, Equipment, Furniture, Fittings, appurtenant to 
building shall come under this 194I.

​Any Person other than an Individual, who is responsible for paying rent to a resident, shall deduct the TDS @
- 2% for Plant, Machinery or Equipment
- 10% for other rent payments like Land, Building, and Furniture

​Case 1: ABC Ltd. took on sub-lease a building from J, an individual, with effect from 1.9.2024
on a rent of 25,000 per month. It also took on hire machinery from J with effect from
1.10.2024 on hire charges of 15,000 per month. ABC Ltd. entered into two separate 
agreements with J for sub-lease of building and hiring of machinery. The rent of building and
hire charges of machinery for the financial year 2024-25 were 1,75,000 and 90,000, 
respectively, which were credited by ABC Ltd. to the account of J in its books of account on 
31.3.2025. Examine the obligation of ABC Ltd. with regard to deduction of tax at source in 
respect of the rent and hire charges.
Solution: As per section 194-I dealing with the deduction of tax at source from payment of 
rent, the rate of TDS applicable is 2% for machinery hire charges and 10% for building lease 
rent. The scope of the section includes, within its ambit, rent for machinery, plant and 
equipment. Tax is required to be deducted at source from payment of rent, by whatever 
name called, under any lease, sub -lease, tenancy or any other agreement or arrangement 
for the use of building and machinery, irrespective of whether such assets are owned or not 
by the payee.
The limit of 2,40,000 for tax deduction at source will apply to the aggregate rent of all the 
assets. Even if two separate agreements are entered into, one for sub-lease of the building 
and another for hiring of machinery, rent and hire charges under the two agreements have 
to be aggregated for the purpose of application of the threshold limit of 2,40,000. In this 
case, since the payment for rent and hire charges credited to the account of J, the payee, 
aggregates to 2,65,000 (1,75,000 + 90,000), tax is deductible at source under section 194-I. 
Tax is deductible @10% on 1,75,000 (rent of building) and @2% on 90,000 (hire charges of 
machinery)

​The Institute of Cost Accountants of India (ICMAI) has announced the results for the December 2024 examinations of the Cost and Management Accountancy (CMA) Intermediate and Final courses. The results were released on February 11, 2025, and are available on the official ICMAI website.

CMA Intermediate Examination Results:
Group I: 16.10% pass rate
Group II: 28.69% pass rate
Both Groups:
Passed in either one of the group: 9.89%
Passed Both Groups: 17.77%

Top Rankers in CMA Intermediate Examination:
Rank 1: Krutika Singhal (Surat)
Rank 2: Khushi Gurbani (Jaipur)
Rank 3: Chamundeswari Kancherla (Vijayawada)
Rank 4: Gollapalli Thanussha Reddy (Bangalore)
Rank 5: Mohit Tilwani (Surat)

CMA Final Examination Results:
Group III: 14.72% pass rate
Group IV: 50.95% pass rate
Both Groups Combined: 22.46% of candidates passed both groups

Top Rankers in CMA Final Examination:
Rank 1: Rishab Ostwal R (Bangalore)
Rank 2: Lakkimsetty Vaghdeva (Guntur)
Rank 3: Dhruv Rastogi (Delhi)
Rank 4: Moduturu Munisai (Vijayawada)
Rank 5: Munjuluri Mohan Krishna (Rajahmundry)

​Candidates who did not pass the examinations are encouraged to register for the upcoming CMA June 2025 examinations. Detailed information regarding the registration process and examination dates will be available on the ICMAI official website in due course.

A Buyer needs to deduct TDS under sec 194Q when he purchase goods from resident seller.

• This section applies only when Buyers previous financial year gross turnover or sales or receipts above 10 crores.
• If the gross turnover does not meet 10 crores no TDS apply under 194Q
• This section not applicable in the year on incorporation of companies because it does not meet the 10 crores gross turnover limit in previous year.
• Threshold limit is 50 lakhs and TDS rate is 0.1% of excess of 50 lakhs
• 50 lakhs need to be calculated on particular seller, don’t combine all sellers to calculate 50 lakhs limit.

Calculation of TDS
- ⁠If invoice is with GST and mentioned separately - TDS on Taxable Value
- ⁠If invoice having only amount and no mention of tax - TDS on full invoice value
- ⁠If in case of purchase returns - TDS can adjust against next purchase from the same seller
- ⁠If in case Replacement of goods - no adjustment required

​194Q Not applicable on
- Recognized Stock Market Transactions and Power Exchanges 
- ⁠on State / Central Government 
- ⁠any bodies exempt from sec 10 of income tax act (not partly exempt bodies).
​
If any department of government carrying a commercial business - 194Q applies 
If not carrying business - not applicable

If you pay an advance to a seller for goods, you need to deduct TDS on the advance amount at the time of payment, as per the rule:
TDS is deducted at the earlier of
- When the amount is credited to the seller’s account, or
- When the payment is made.
TDS is deducted at the earlier of
- When the amount is credited to the seller’s account, or
- When the payment is made.

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​
Everything we will provide Practical Training on GST Portal by Expert Faculty Members. 

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​Course Highlights:
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5. Payroll, PF, ESI Returns
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• Basics of GST
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#F1, 1st Floor, KVR Enclave,
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ICAI - The Institute of Chartered Accountants of India Announced the Examination Dates for CA INTER in January 2025. The CA Inter Exams in Jan 2025 will begin from 11th January and ends on 21st January if you applied for both groups of CA Inter Examinations.

​Candidates of Foundation and Intermediate Examinations will be allowed to opt for English / Hindi
medium for answering papers. Detailed information will be found in guidance notes hosted at
www.eservices.icai.org

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