TDS on Vehicle Rent
This query is : Resolved
22 February 2011
Sir,
If vehicle is given on rent for hire for Rs.50000/- per month on a contract basis, and TDS is deducted, will it be covered U/s 194C or 194I?
If vehicle is given on rent for hire for Rs.50000/- per month on a contract basis, and TDS is deducted, will it be covered U/s 194C or 194I?
22 February 2011
section 194I..
22 February 2011
In my opinion, 194C would be applicable.
22 February 2011
TDS to be deducted u/s 194C.
Rate of TDS:
Individual/HUF 1%
Others 2%
Rate of TDS:
Individual/HUF 1%
Others 2%
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