One of my client has purchased a car and give the same for hire to a company but there some tax been deducted under section 194IA. What will be the treatment in this case. Its very urgent and how can he filed his Income Tax return and in which ITR Form.
Menu
Scope of section 194ia
Replies (7)
TDS deducted over rent of plant & machinery @ 2% over rental income u/s. 194I.
He can file ITR3 or ITR4 under presumptive assessment.
Mr Rambhia, I mentioned about the section 194IA and you have written on 194I. Is the application of this two sections are same. I will wait for your reply.
What is the rate of TDS deducted?
If 2 % ......... Sec. 194I.. for Rent....for Plant & Machinery (here, car)
If 1% ........Sec. 194IA....... for transfer of certain immovable property other than agricultural land
Then Sir, this sections are not applicable on my given case, which I have posted in this thread. Then may I treat my case as good as section194c?
Check the TDS certificate (form 16A) and decide ..........
| I think this is an informative post and it is very useful and knowledgeable. therefore, I would like to thank you for the efforts you have made in writing this article. | <a target='_blank' rel='nofollow' href="https://www.naeemkhatri.com/">Guest Posting</a> |
I think this is an informative post and it is very useful and knowledgeable. therefore, I would like to thank you for the efforts you have made in writing this article. Guest Posting
Recent Topics :
- Police Bandobost and GST Invoice
- Understanding where manual effort goes in audit wo
- Scanned purchase bills to Tally XML with GST check
- TDS applicability of foreign remittance to Oracle
- GSTR 9 LATE FEE
- Best Online Mock Test Series for CA Inter January
- COST OF IMPROVEMENT
- Pillows and Mattresses
- GST Applicability for Reg. / Un-Reg. Indian custom
- Amended GST Act & Rules
Related Topics :
CAclubindia
