Tds applicability
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 April 2013
Hi,
Our Organisation has taken some tractors on rent from a govt. organisation in MP.
The query is, are we liable to deduct tax at source from the payments so made?
We are yet to figure out if it's a corporation established under central act.
Our Organisation has taken some tractors on rent from a govt. organisation in MP.
The query is, are we liable to deduct tax at source from the payments so made?
We are yet to figure out if it's a corporation established under central act.
Trinadharao Adigarla
(Expert)
15 April 2013
Must Deduct TDS as per Income Tax Act.
16 April 2013
obviously if it is not meeting the criteria specified u/s 196 of the Act, you are duty bound to deduct tds @ 2% being rent of plant & machinery
31 May 2013
There is difference between Govt. Department and Govt. undertaking. If it is department then no TDS but if it is undertaking then Yes as it is in the form of company and having shareholders either Govt. or financial institutions.
31 May 2013
There is difference between Govt. Department and Govt. undertaking. If it is department then no TDS but if it is undertaking then Yes as it is in the form of company and having shareholders either Govt. or financial institutions.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Nursery business
- Tax on Amount transferred in HUF Account
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- TDS on Dashcam rent and allied services
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Intimation under section 245
- Section 269ST applicability for capital introduced by partner to his partnership firm
- ETDS return q4 25-26
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- Working on Gold wastage during Melting of old gold jewellery
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
