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Tds applicability on leased vehicles from other directors

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(Querist)
21 October 2011 Sir, I have a query that. Our company taken vehicles under lease from other directors, for that is there any applicability of TDS deduction on payment to vehicle owners.

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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
21 October 2011 Yes. need to deduct TDS on contract basis u/s.194C
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