Tds should be deducted or not.
This query is : Resolved
01 August 2013
Dear Experts
My company have lot of computers on contract basis and we are paying contract amount to a party abt 50000/- per month, contractor charging vat on monthly rent of computers, i think it is a contract so we should deduct TDS on monthly rental amount, but i m confused bcoz it is deemed sale under vat law. so pls suggest me wat should i do n pls give the reference of your answer so dat i cn aware abt dat rules..........
thank u.
My company have lot of computers on contract basis and we are paying contract amount to a party abt 50000/- per month, contractor charging vat on monthly rent of computers, i think it is a contract so we should deduct TDS on monthly rental amount, but i m confused bcoz it is deemed sale under vat law. so pls suggest me wat should i do n pls give the reference of your answer so dat i cn aware abt dat rules..........
thank u.
02 August 2013
if your company is using computers on rental basis then sec 194-I will be applicable.
02 August 2013
deduct tds u/s 194-I @10%
02 August 2013
Thank u sir i m also thinking dat, but confused on vat amount which is charged 5% on rent per month. thank you so much.
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