what is the rate of tds in case a company is paying generator hire charges?
co. is also paying car hire charges and it is bearing maintenance expenses of the car. then what is the rate of tds?
Arundhati Raychaudhuri (no designation) (340 Points)
09 June 2013what is the rate of tds in case a company is paying generator hire charges?
co. is also paying car hire charges and it is bearing maintenance expenses of the car. then what is the rate of tds?
CA Kiran.H.G
(Chartered Accountant)
(79 Points)
Replied 09 June 2013
Genarator comes under the category of Plant & Machinery. Renting of generator falls under section194-I i.e., two per cent for the use of any machinery or plant or equipment.
TDS on Hire charges for Vehicles needs needs to be done unders 194C i.e., as contractors. 194-I is not applicable for renting of vehicles.
Sindhuja
(Final Student)
(113 Points)
Replied 10 June 2013
does tax need to be deducted for maintenance charges also??
CA Suryakant Dubey
(CA )
(931 Points)
Replied 10 June 2013
Tax is required to be decucted in case of AMC under 194c
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
