Tds u/s 194c & 194I
This query is : Resolved
jyoti gupta
(Querist)
01 December 2010
Ques 1) I want to ask, if a co. is paying genretor expenses in lumpsum including rent maintenance to an individual then it would be covered under section 194c or u/s 194I? The payment is made against the rent agreement
Ques 2) The above said generator is placed in a Mall and Co. pay by way of cheque Rs.5000 pm to the mall, and is no recipt issued by mall, is there any TDS liability?
Ques 2) The above said generator is placed in a Mall and Co. pay by way of cheque Rs.5000 pm to the mall, and is no recipt issued by mall, is there any TDS liability?
CA Gangadhar Mishra
(Expert)
01 December 2010
ans (1) for lumpsum payment against rent of generator will come u/s 194I, so, tds will be @ 1% for individual & @ 2% for others. If you have a simple contract then the rate of tds will be same U/S sec-194c.
2)TDS is applicable.
2)TDS is applicable.
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