Upon hiring of motor vehicle
This query is : Resolved
27 April 2014
if a person hiring of motor vehicle means car for travelling and on the monthly basic
then, is the person liable to deduct tds and at what rate 2% or 10%
27 April 2014
if the agreement is for the car only, then it shall be covered under 194-I and tax deduction shall be 2%.
however, if the same also includes items such as petrol charges, driver, maintenance etc, it shall be covered under 194C and rate shall depend on the constitution of the contractor.
(note: deduction is subject to the payments crossing the limits prescribed in the relevant sections).
In any case 10% deduction wont be applicable to this case.
however, if the same also includes items such as petrol charges, driver, maintenance etc, it shall be covered under 194C and rate shall depend on the constitution of the contractor.
(note: deduction is subject to the payments crossing the limits prescribed in the relevant sections).
In any case 10% deduction wont be applicable to this case.
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