works contract agreement
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 April 2011
we are running an institute and we had hired a transporter for pick & drop facility of students & staff from their place to the institute and back again. we have deducted TDS u/s 194C @2% (as this is a works contract agreement between the institute & the transporter),but the AO is of view that TDS should be deducted u/s 194I. there is no monthly agreement between the institute & the transporter,and the vehicles are also under his control only. my question is-
1. Are we wright in deducting TDS u/s 194C.
2. is there any format for works contract agreement between transporter and the beneficiary.
1. Are we wright in deducting TDS u/s 194C.
2. is there any format for works contract agreement between transporter and the beneficiary.
CA Navin Jain
(Expert)
29 April 2011
YOU CAN DEDUCT THE TDS UNDER SECTION 194I AS TAXI HIRE CHARGES
TDS RATE WILL BE @2%
TDS ON RENT ON PLANT AND MACHINERY
TDS RATE WILL BE @2%
TDS ON RENT ON PLANT AND MACHINERY
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