TDS on car parking charges

This query is : Resolved 
 

(Querist) 15 May 2008

wheteher tds is deducted on car parking charges or not


CA Hemant T Dewani (Expert) 15 May 2008

US 194C OF THE INCOME TAX ACT PAYMENT TO CONTRACTOR & TRANSPORTOR ARE LIABLE TO DEDUCT TAX IF PAYMENTS ARE MORE THAN THE SPECIFIC LIMIT
IN MY OPNION TDS IS NOT TO BE DEDUCTED BECAUSE YOU ARE USING SPACE FOR SOME TIME F.E. LAND OR MAY BE BUILDING SPACE THAT IS NOT COVERED IN THIS SECTION

CA. Yayati Tyagi (Expert) 15 May 2008

Chetan, you have not provided sufficient data, whether you have made any contract with party.

in my opinion you need to deduct tax if you have entered into any contract to use space regularly and payment exceeds rs. 20000. sec 194c is inclusive not exhaustive and covers almost all contracts which are not covered under any other section.

(contracts need not be in written, what important is whether you show this exp. in books or not, if yes, then tds is applicable)



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