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applicability of section 194c or 194i?
if an entity takes on lease a vehicle from a transporter as per lease agreement/ contract. which section is applicable for deduction of TDS in respect of charges paid to transporter. whether u/s 194c or 194i @ 2% i.e. for plant and machinery.
Replies (2)
194c will be applicable....
If it is a vehicle for particular term of use then 194I @ 2%.
Or if it is an arrangnent as per contract to supply vehicles as and when required, only then it shall be covered under 194C.
Or if it is an arrangnent as per contract to supply vehicles as and when required, only then it shall be covered under 194C.
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