Rate of income tax on hiring of vehicles
This query is : Resolved
16 August 2013
We hire vehicles for our work on regular basis on a fixed rate for a certain period of time. Apart from this, the diesel, engine oil, parking charges, toll taxes are reimbursed as per actual. The diesel is reimbursed @ 12 Kms per ltr and Engine Oil is reimbursed @ 500 km per ltr.
Should we have to deduct the Income tax @ 1% on the hire charges or the total amount of bill paid to the contract which includes the reimbursement on account of diesel, engine oil, toll tax, parking charges etc. Pl clarify
Should we have to deduct the Income tax @ 1% on the hire charges or the total amount of bill paid to the contract which includes the reimbursement on account of diesel, engine oil, toll tax, parking charges etc. Pl clarify
16 August 2013
Tds should not be deducted on reimbursement of exp.
16 August 2013
futher tds will be deductible u/s 194-I.
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