Tds on rent u/s 194 i or 194c

This query is : Resolved

Jigar Chudasama (Querist)
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28 February 2013 HELLO EXPERTS,
MY QUERY IS,
IF ANY PERSON (INDIVIDUAL) GIVES CAR ON HIRE TO A COMPANY THEN RENT RECEIVE BY HIM FROM COMPANY IS LIABLE TO TDS UNDER WHICH SECTION??
THE CAR ON HIRE CAN BE USE FOR ANY PURPOSE IN THE COMPANY. CAR IS NOT HIRED FOR ANY SPECIFIC JOB.
THANKS IN ADVANCE...

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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28 February 2013 If you paying fixed monthly or daily or any other certain period charges irrespective of utilisation then it will be called as Contract so deduct TDS u/s 194C. In case you are paying charges based on your utilisation like rate per KMS traveled or per day charges on the day of travel then you can say it is rent and TDS u/s194I.

OM SAI SRI SAI JAI JAI SAI

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