IS TDS ATTRACT FOR TRACTOR HIRE CHARGES U/S 194C OR 194I??
RS.12000 IS MONTHLY RENTAL FOR HIRING OF TRACTOR.. AS THE TRACTOR OWNERS ARE AGRICULTURISTS & DO NOT HAVE PAN NO. THEN WHAT ARE THE CONSIQUENCES..PLEASE REPLY ME
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IS TDS ATTRACT FOR TRACTOR HIRE CHARGES?
Replies (2)
Dear Varsha!
Letting of tractors is certainly a case of non-agricultural income and needs to be assessed in the hand of the recepients. If the entire machinery is provided for lease over a period of time, then Section 194I would be applicable or if the vehicle is hired for secific tasks then 194C would be applicable.
Good Bye! Cheers!!
Dear varsha!
Hiring of tractors is a case of non agricultural income and needs to be asseseed in the hands of the recepients. If the tractors is hired over a period of time then section 194I would be applicable or if the tractor is hired for specific tasks, then 194C would be applicable for the rent paid.
Good bye! Cheers!!
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