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expenses treatment

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(Querist)
20 February 2008 Sir,
if a company is importing some items on which it has paid security for container in which it has packed its material, when material reached at indian port company has paid epenses to container corporation of india and returned back security money to the company company. now question is what is the nature of expenses is it rent,packing charges or fraight. and if it is rent do the company has to deduct TDS on that payment.
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
21 February 2008 What is the nature of security charges and to whom it was paid?
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Mandip Bhattarai

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Mandip Bhattarai (Querist)
21 February 2008 Nature is as the security for container which was taken on rent and it is paid to container corporation of India.
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CA. GOPAL SONIKA

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CA. GOPAL SONIKA (Expert)
21 February 2008 The expenses paid is not rent. But in any case TDS will be deducted @ 2 perecnt plus surcharge and cess
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Sandeep Diwan

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Sandeep Diwan (Expert)
22 February 2008 It is in the nature of Rent paid to container corporation of india , hence TDS is deducted on that
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