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Deduction for Tractors and Tippers

TDS / TCS 977 views 1 replies

I am confused at a point, Hire of vehicles is classified under Sec 194C, but does the term vehicles include Tractors and tippers?

Q2:Tractors and Tippers are commercial and specific use, classifying it as vehicles makes them multi pupose, is there any article supported to the query?

Q3:What would be the deduction of Tax for the Hire charges paid on them, under Sec 194I or C?

[P.S.: both are for a specific use for collection and excavation work.]

Replies (1)

"Work" wherever referred to in this section shall include:

  • Advertising;

     

  • Broadcasting and telecasting including production of programs for such broadcasting or telecasting;

     

  • Carriage of goods and passengers by any mode of transport other than by railways; and

     

  • Catering;

     

  • Transport Contracts;

     

  • Service Contracts;

     

  • Labour Contracts;

     

  • Materials & Works Contracts
     

    you have to deduct tds if payment is in ecxcess of rs 50000/-& you are not an indivdual if you are an individual & liable to tax audit then tds is to be deducted


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