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Sec 194 I or 194C

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(Querist)
03 May 2011 We are paying Fixed hire charges for Car taken on 12 hrs / day basis. Overtime, if any is paid in addition to fixed monthly hire charges.
Currently TDS is being deducted U/s 194 I.
Whether it is correct or TDS to be deducted U/s 194C
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CA MANOJ GUPTA

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CA MANOJ GUPTA (Expert)
03 May 2011 THE TAX OIS TO BE DEDUCTED UNDER SECTION 194C SEE Tata AIG General Insurance Company Ltd. v. ITO (2011) 37 (II) ITCL 116 (Mum ‘H’-Trib)

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