TDS

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zamir

zamir (Querist)
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25 June 2009 At what rate is TDS deducted for car hire charges for which no agreement is made between the parties???

Sanjeev Jain

Sanjeev Jain (Expert)
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25 June 2009 Hie Zamir,

Agreement doesn't mean Written Agreement even the verbal conversation will bind the firm if it result in any agreement. And as far as your problem is concerned TDS will be deducted @2.06%or 2.266% if surcharge applicable u/s 194C of Income Tax Act.

CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
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25 June 2009 In my opinion, Tax would be deducted u/s 194I.

Jitendra

Jitendra (Expert)
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26 June 2009 If the car is taken on rent with exclusive possession, i.e. the whole control on the car is exercised by the lessee, then Tax need to be deducted u/s 194I

However, if the car is not in exclusive possession of the person but controlled by the owner of the car then tax need to be deducted u/s 194C.

It is irrelevant whether you have a written agreement or oral one.

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