India - Income Tax Act 2010 - Saarc

S. 194J I.T. ACT, 1961 1.758Explanation.—For the purposes of this section,—76[(i) “rent” means any payment, by whatever name called, under any lease,sub-lease, tenancy or any other agreement or arrangement for theuse of (either separately or together) any,—(a) land; or(b) building (including factory building); or(c) land appurtenant to a building (including factory building); or(d) machinery; or(e) plant; or(f) equipment; or(g) furniture; or(h) fittings,whether or not any or all of the above are owned by the payee;](ii) where any income is credited to any account, whether called “Suspenseaccount” or by any other name, in the books of account of theperson liable to pay such income, such crediting shall be deemed tobe credit of such income to the account of the payee and theprovisions of this section shall apply accordingly.]77[Fees for professional or technical services. 7879194J. (1) Any person, not being an individual or a Hindu undivided family,who is responsible for paying to a resident any sum by way of—(a) fees for professional services, or(b) fees for technical services, 80 [or]80[(c) royalty, or(d) any sum referred to in clause (va) of section 28,]shall, at the time of credit of such sum to the account of the payee or at the timeof payment thereof in cash or by issue of a cheque or draft or by any other mode,whichever is earlier, deduct an amount equal to 81 [ten] per cent of such sum asincome-tax on income comprised therein :76. Substituted by the Taxation Laws (Amendment) Act, 2006, w.e.f. 13-7-2006. Prior to itssubstitution, clause (i) read as under :‘(i) “rent” means 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 anybuilding (including factory building), together with furniture, fittings and the landappurtenant thereto, whether or not such building is owned by the payee;’77. Sections 194J and 194K inserted by the Finance Act, 1995, w.e.f. 1-7-1995.78. See rules 28, 28AA, 28AB, 30, 31, 31A, 31AB, 37 and 37BA and Form Nos. 13, 16A, 26AS and26Q.79. See also Circular No. 714, dated 3-8-1995, Circular No. 715, dated 8-8-1995, CircularNo. 716, dated 9-8-1995, Circular No. 720, dated 30-8-1995, Circular No. 726, dated18-10-1995, Circular No. 766, dated 24-4-1998, Letter F.No. 275/73/2007-IT(B), dated30-6-2008 and Circular No. 8/2009, dated 24-11-2009. For details, see Taxmann’s MasterGuide to Income-tax Act.80. Inserted by the Taxation Laws (Amendment) Act, 2006, w.e.f. 13-7-2006.81. Substituted for “five” by the Finance Act, 2007, w.e.f. 1-6-2007.