tds on motor car rent

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dinesh

dinesh (Querist)
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15 March 2008 dear friend,
Plz advice me
co paid motor rent exceeding rs 50000/- what rate tds to be deducted ?

CA Praveen Chopra

CA Praveen Chopra (Expert)
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15 March 2008 Rent or hiring charges paid ag.plant & machinery attract section 194I i.e.10%+SC+E.CESS w.e.f.01-06-2007 and motor car is plant and machinery for income tax purpose.But if the rent or hiring charges exceeds 120000/- p.a.than only TDS will be deducted otherwise not.

R.V.RAO

R.V.RAO (Expert)
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15 March 2008 I AGREE WITH SRI CHOPRAJI.
R.V.RAO

CA Shailesh +91 9393926464

CA Shailesh +91 9393926464 (Expert)
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16 March 2008 Yes . I do agree with the above reply

dinesh

dinesh (Querist)
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07 April 2008 dear friend thanks for advise
but i think that motor car is not machinery. and it is also not mention in definition of machinery u/s 194i

") “rent” means any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of (either separately or together) any,—

(a) land; or

(b) building (including factory building); or

(c) land appurtenant to a building (including factory building); or

(d) machinery; or

(e) plant; or

(f) equipment; or

(g) furniture; or

(h) fittings,
"
therefore give me ur advice

thanking you

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