TDS ON RENT PAID FOR A CAR

This query is : Resolved

shweta jain (Querist)
Follow

01 April 2009 AT WHAT RATE AND UNDER WHAT SECTION SHOULD TDS BE CHARGED ON THE MONTHLY FIXED RENT PAID FOR THE USE OF CAR BY A COMPANY.

VIPUL BHANDARI

VIPUL BHANDARI (Expert)
Follow

01 April 2009 please clarify question clearly, i means rent paid is coporate assessee or individual assessee !

then i can tell u about the rates

shweta jain

shweta jain (Querist)
Follow

01 April 2009 rent is paid by a co. to an individual.
it is more than 120000 in a year.
if the person receiving the rent is the wife of CEO wud the related party clause come into effect??

shweta jain

shweta jain (Querist)
Follow

01 April 2009 how would the use of car i.e. for personal or official purpose effect the tax structure??

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
Follow

01 April 2009 if amount of total rent exceeds 120000 than u r required to deduct tds u/s 194 I
and rate will be basic 11.33% if surcharge is applicable and 10.3% without surcharge

Message likes : 1 times