TDS 194 I
This query is : Resolved
31 March 2010
Whether Rent recd. from leasing vehicle(lorry, van) is covered under Sec 194I.
31 March 2010
Yes it is covered u/s 194I
Rent includes any payment by way of lease,sub lease or any agreement and payment is made towards
land
building
land appurtenant therto
machinary
plant
equipment
Furniture and fittings
Since Lorry or Van comes under the catogory of Plant/Machinary/ Equipment it is covered under 194I
so 2% is the rate of TDS
Rent includes any payment by way of lease,sub lease or any agreement and payment is made towards
land
building
land appurtenant therto
machinary
plant
equipment
Furniture and fittings
Since Lorry or Van comes under the catogory of Plant/Machinary/ Equipment it is covered under 194I
so 2% is the rate of TDS
31 March 2010
I THINK YES.
VIEWS OF OTHER EXPERTS IS ALSO SOLICITED. SHOULD NOT THIS RENT BE TREATED AS RENT ON PLANT & MACHINERY?
VIEWS OF OTHER EXPERTS IS ALSO SOLICITED. SHOULD NOT THIS RENT BE TREATED AS RENT ON PLANT & MACHINERY?
31 March 2010
My view is no.it is an normal contract covered under 194C.I don`t think lorry covered under P&M
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