TDS
This query is : Resolved
Akhil Agrawal
(Querist)
09 December 2010
In which section is TDS deducted in case of Leasing of the Vehicles
CA Sanat Pyne
(Expert)
09 December 2010
194I
Akhil Agrawal
(Querist)
14 December 2010
but the defiition of rent does not contain the leasing of vehicles as rent
“rent” means any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of (either separately or together) any,—
(a) land; or
(b) building (including factory building); or
(c) land appurtenant to a building (including factory building); or
(d) machinery; or
(e) plant; or
(f) equipment; or
(g) furniture; or
(h) fittings,
whether or not any or all of the above are owned by the payee;]
“rent” means any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of (either separately or together) any,—
(a) land; or
(b) building (including factory building); or
(c) land appurtenant to a building (including factory building); or
(d) machinery; or
(e) plant; or
(f) equipment; or
(g) furniture; or
(h) fittings,
whether or not any or all of the above are owned by the payee;]
CA Sanat Pyne
(Expert)
15 December 2010
Motor car is plant and machinery for income tax purpose.
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