Service tax and tds

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Querist : Anonymous

Querist : Anonymous (Querist)

18 March 2014 We have hired a car on monthly basis towards movement of staff’s at our construction site and the party has been raising his bills on monthly basis as per Work Order. My question is which accounting head we may book & applicability of TDS & Service Tax. Please suggest as per IT section.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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18 March 2014 1. Record the expense in Car Hire Charges.
2. Section 194C is applicable and TDS will be deducted if the amount exceeds the specified limit.
3. Reverse charge is applicable on renting of motor vehicle designed to carry passengers if provided BY an individual, HUF or firm TO a company.

Querist : Anonymous

Querist : Anonymous (Querist)

18 March 2014 Thank you so much Sir.

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