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Tds on lease of car

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(Querist)
10 April 2015 If Rent is Paid on leasing of car then at what rate Tds will be deducted u s 194i Whether it is to be considered as Plant or machinery or equipment?
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Rupesh Jain

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Rupesh Jain (Expert)
10 April 2015 it will be cover u/s 194c. its not plat & machinery
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Rupesh Jain

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Rupesh Jain (Expert)
10 April 2015 it will be cover u/s 194c. its not plat & machinery
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CA Chitesh Kumar Singla

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CA Chitesh Kumar Singla (Querist)
10 April 2015 in your opinion 2% TDS is deducted.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
10 April 2015 Rate of TDS depends upon the person to whom the sum is being paid. In case of an Individual or HUF owner, you can deduct TDS @ 1% also.
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