New TDS on Rent for Plant & mach.

[EMANUEL]

Hi,

How to incorporate the New Tax Rate in TDS Threshold set up and Tax Rates for Rent Under TDS Section 194 (I) whereby there is a New Tax rate on Rent for Plant & Machinery- 2% and Rent for Other than Plant & Machinery 10% ?

Please advice

Rgds

[siva sankar]

Hi,

For Identification purpose, You may create One more custom TDS Section as 194(I)-Mech. and create the new tax id@2%

I hope you will understand the concept now.

Other than Plant & Mechinary, we have seeded section as 194(I) @10%.

Thanks & Regards,

Siva