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{"id":3614,"date":"2016-10-16T10:07:06","date_gmt":"2016-10-16T04:37:06","guid":{"rendered":"https:\/\/taxclick.org\/?p=3614"},"modified":"2016-10-16T10:18:26","modified_gmt":"2016-10-16T04:48:26","slug":"one-time-upfront-lease-charges-not-liable-tds-circular-352016","status":"publish","type":"post","link":"https:\/\/taxclick.org\/type\/income-tax\/one-time-upfront-lease-charges-not-liable-tds-circular-352016\/","title":{"rendered":"One-time upfront lease charges are not liable for TDS – Circular 35\/2016"},"content":{"rendered":"

Circular No. 35 \/2016<\/u><\/strong><\/p>\n

F.No. 275\/29\/2015-IT (B)<\/strong><\/p>\n

Government of India<\/p>\n

Ministry of Finance<\/p>\n

Department of Revenue<\/p>\n

Central Board of Direct Taxes<\/p>\n

North <\/strong>Block, New Delhi 13th<\/sup> October, 2016<\/p>\n

Subject: Applicability of TDS provisions of section 194-I of the Income-tax Act, 1961 <\/strong>on lump sum lease premium paid for acquisition of long term lease-<\/strong>regarding<\/strong><\/p>\n

Section 194-I of the Income-tax Act, 1961 (the Act) requires that tax be deducted at source at the prescribed rates from payment of any income by way of rent. For the purposes of this section, “rent” has been defined as any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of any land or building or machinery or plant or equipment or furniture or fittings.<\/p>\n