Indrajit Mondal (Service) (142 Points)
07 January 2009My company took 10 pcs Air Conditioner on hire basis from a person (individual) the hire amount would be Rs 400 per AC per month for whole year and 3pcs Refrigerator @ Rs.375/- each for 8months and 2pcs Refrigerator @ Rs.375/- for 4months. Now my question is that is the expenditure attract TDS?if yes under which section?
INDRA
CA. Ashok shah
(CHARTERED ACCOUNTANT)
(333 Points)
Replied 07 January 2009
Yes.
If the payment exceeds Rs.120000/- in the financial year, TDS is deductible u/s. 194I.
R.Suresh
(Sr. Executive)
(394 Points)
Replied 07 January 2009
You are going to paying morethan Rs120000 p.a. attract TDS u/s 194I.
CA CS CIMA Prakash Somani
(Landmark Group)
(23502 Points)
Replied 07 January 2009
Yes, TDS U/s 194I would be applicable if total amount exceeds Rs 120000 in a year.
Atul Kumar
(CA)
(504 Points)
Replied 13 January 2009
Yes TDS would be liable @ 10% + E.Cess & S.H.E.C.
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