Controversy btwn S194C & S194I
This query is : Resolved
Rajkumar Hudati
(Querist)
30 June 2008
Whether hiring of car(Tata Sumo)/bus will atribute Sec-194C or Sec-194I(Rent on Plant & Machinery)in case of
1.hiring on monthly basis?
2.hiring on daily basis?
1.hiring on monthly basis?
2.hiring on daily basis?
Sakshi Gumbar
(Expert)
30 June 2008
194C
01 July 2008
First car, vehicles etc., does not come under Plant and Machinery. So there no need to apply sec.194I. Sec.194C apply where payment exceeds the prescribed limits.
Interpret section correctly.
Interpret section correctly.
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