Tds
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
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
(Expert)
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
OM SAI SRI SAI JAI JAI SAI
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