TDS U/s. 194-I
This query is : Resolved
06 August 2009
Dear Sir,
I am commerce graduate & working in Accounts & Finance department in a steel manufacturing company aviating for your kind suggestion in respects to appropriate deduction of TDS U/s. 194 I (Rent) / 194-C (Payment to Contractor & Sub Contractor).
CASES
We have taken a JEEP and a TRACTOR on hire / rental basis for fallowing purpose:
1. JEEP: (Monthly Rent Rs. 13500/-) which used for transportation of our staff to various places on time to time.
2. TRACTOR: (Monthly Rent Rs. 15000/-) which used for transportation of materials in our plant premises and to some times to other places.
We have also noticed that no provision has been made for said cases U/s. 194-I (RENT). But we are deducting TDS @ 10.30% U/s. 194-I.
Hence, you are requested to kindly suggest what approach we should opt to deduct corrects TDS.
Thanks & Regards,
V. Ravi Kumar
Cell No. 9302176121
Email; ravikumar0871@in.com
I am commerce graduate & working in Accounts & Finance department in a steel manufacturing company aviating for your kind suggestion in respects to appropriate deduction of TDS U/s. 194 I (Rent) / 194-C (Payment to Contractor & Sub Contractor).
CASES
We have taken a JEEP and a TRACTOR on hire / rental basis for fallowing purpose:
1. JEEP: (Monthly Rent Rs. 13500/-) which used for transportation of our staff to various places on time to time.
2. TRACTOR: (Monthly Rent Rs. 15000/-) which used for transportation of materials in our plant premises and to some times to other places.
We have also noticed that no provision has been made for said cases U/s. 194-I (RENT). But we are deducting TDS @ 10.30% U/s. 194-I.
Hence, you are requested to kindly suggest what approach we should opt to deduct corrects TDS.
Thanks & Regards,
V. Ravi Kumar
Cell No. 9302176121
Email; ravikumar0871@in.com
06 August 2009
The end use of Jeep or Tracker hired by you does not matters.
The basic funda between TDS U/s 194I and 194C is that ... If you have contract in written with party then you can deduct U/s 194C otherwise better to deduct TDS U/S 194I...
The basic funda between TDS U/s 194I and 194C is that ... If you have contract in written with party then you can deduct U/s 194C otherwise better to deduct TDS U/S 194I...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Capital gain from sale of house property
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Transporter Declaration form
- Multiple trade mark
- FORM 26A APPLICABILITY
- LC charges in relation to Asset purchased should be Capitalised ?
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
