TDS Applicability on Hire Charges on Vechiles

CA.Anuj kumar sharma (Service in Public Ltd. Co.)   (99 Points)

14 November 2008  

Dear All,

Please clarify me that at what rate TDS needs to be deucted on  Hire Charges on Vechiles, it is 2% or 10%. Lot of confusions are there on this issue.

Also clarify me whther rates are based on Light Motor Vechile(LMV) and Heavy Motor Vechile(HMV) or it depends upon the controls and rights of hiring as per the work order issued?

Please give replies on this issue. Also give rfereances of clarifications in support of your answer, if any?

Thanks in Advance,

CA. Anuj Kumar Sharma.