Could you please guide whether TDS attract on Lease Rentals paid on Cars
A took 2 cars on lease for a tenor of 2 years and paying Rs.80000 per month towards lease rent. Could you please guide whether we have to make lease rentals by deducting the TDS or not. If TDS attrack, at what rate, we have to deduct TDS
If A is liable to get accounts under section 44AB,then he is liable to deduct TDS on this particular transaction under 194I@2% as rental expenditure exceeds 1,80,000 Rs per annum .
If A is not liable to get accounts audited under section 44AB,then he s not liable to deduct TDS.
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