friends can you help me on hire charges payable on vehicles. Does it comes under section 194i or C
Please refer any circular or any notification for ur answer
friends can you help me on hire charges payable on vehicles. Does it comes under section 194i or C
Please refer any circular or any notification for ur answer
If there is agreement then it will come under 194C otherwise Sec 194i
| Originally posted by :CA CS* Prakash Somani (A helping Hand) | ||
| " | If there is agreement then it will come under 194C otherwise Sec 194i | " |
can you substantiate ur answer
Whereas Explanation (i) to the section 194-I defines rent means any payment, by whatsoever name called, under lease,sub-lease,tenancy or any other agreement or arrangement for the use of any "MACHINERY OR PLANT OR EQUIPEMENT" (Apart from other assets) and Vehicle belongs to assets category of Machinery and Plant.Therefore TDS on payment of hiring vehicle shall be U\s 194-I.
Shiv Sir,
Actually No circular or notification was issued only explaination was elaborated.
Below MACHINERY IS ENCLUED IN THE EXPLAINATION TO 194 I WHICH INCLUD VAHICLE.
O P Bagla & Co LLP
New Delhi
CA Inter
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Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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CAclubindia
