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Tds applicability on vehicle hire charges

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(Querist)
07 October 2013 please solve my below mentioned query : Vehicle is hired for business purpose. TDS under which section needs to be deducted? 194C or 194I??
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Sanket

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Sanket (Expert)
07 October 2013 If you are hiring or leasing vehicles (without the
drivers provided by the transport service/
company) for a certain period, then section 194-I
will apply. A common example is when
companies provide leased cars to their executives
or employees or even business guests, they hire
or lease cars from car hiring/leasing company.
The transport service/company does not provide
the drivers, petrol and day to day cleaning and
maintenance. The rate of TDS for all with effect
from 1st June 2007 is 10.3%, and the surcharge
is 1%. Deduct TDS only when the annual rent
together with advance rent exceeds Rs. 1,20,000
per annum.
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