Tds

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 March 2012 Whether Motor Car taken on Lease by Company be treated as Plant & Machinery

If yes,then TDS on Rent @ 2% deducted by company &
if not, then TDS on Rent to be deducted @ 10% and not 2%

Whether the above mentioned solution is corect? Please Comment

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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03 March 2012 If fixed rental/lease charges paying irrespective of the utilization of the car then it would be rent and TDS would be deductable @10% u/s 194I. If the lease is paying on the basis of utilization of the car such based on travelling Kms then TDS would be deduct @2% u/s 194C.
OM SAI SRI SAI JAI JAI SAI

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