53J. Deduction at source from rental value of vacant land or plant or machinery.

53J. Deduction at source from rental value of vacant land or plant or machinery.-

(1) Where any payment is to be made by a specified person to a resident on account of renting or using any vacant land or plant or machinery, shall deduct tax at the rate of five per cent from the whole amount of the payment at the time of making such payment to the payee.
 

(2) In this section-
(a) “specified person” shall have the same meaning as in clause (a) of sub-section (2) of section 52;
(b) “payment” shall have the same meaning as in clause (d) of subsection (2) of section 52.”।
 

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