Tds u/s 194i
This query is : Resolved
29 November 2011
X ltd. has taken some assets on lease. On payment of lease rentals x ltd is deducting tds u/s 194I.
Now lease period has been over and x ltd has chosen to purchase leased assets from lessor at the residual value 15% of origianl value of assets.
Whether tds u/s 194I needs to be deducted on payment of such residual value?
Is there any case study on such issue?
Now lease period has been over and x ltd has chosen to purchase leased assets from lessor at the residual value 15% of origianl value of assets.
Whether tds u/s 194I needs to be deducted on payment of such residual value?
Is there any case study on such issue?
29 November 2011
At the end it is transfer of asset and it is just like a sale /purchase transaction.
.
In Transactions of purchase of assets no TDS provisions are not applicable.
.
In Transactions of purchase of assets no TDS provisions are not applicable.
30 November 2011
Agree with Mr. Paras
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