Discuss whether the following payments are subject to Tax Deducted at Source (TDS). If so, find out the amount of tax to be deducted at source: LIC of India makes a payment of ₹6,00,000 as rent to the Central Government
CS Executive · Tax Laws · PYQS · June 2019
Discuss whether the following payments are subject to Tax Deducted at Source (TDS). If so, find out the amount of tax to be deducted at source: LIC of India makes a payment of ₹6,00,000 as rent to the Central Government for a building in which one of its branches is situated. PAN is intimated.
Answer & Explanation:
Payment of Rent made to Central Government for building in which one of its branches is situated would not subject to TDS liability.
Topics: Income Tax Act, 1961
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