it is not correct, bcz both vehicle are on rent not on contract, means in the case of Rent all responsibility of the vehicle like - Fuel, Operator ( Driver), maintenance etc. of the contractee, but in your case you are filling Fuel, & as like Rent you paid to contractor a fixed amt. So it is not a contract you hired a vehicle on foxed amt, so it is a rent.
deduct TDS @ 10.3% u/s 194I
Is tds deductible on maintenance charges of rented flat amounted Rs.10000/-?
I have taken personal loan from banks and other private institutions, should i have to deduct TDS on interest that i am paying? if yes ? at what rate ? if No ? is there any circular / provision from Government ? if yes where can i get it? please reply soon
freight contract, payment above 20000, there will be charge tds as a contractors act?
| Originally posted by :Guest | ||
| " | We are engaging 2 Vehicles with driver (driver is the owner for that vehicle). One vehicle - Rs.12000 & another Rs.10 k per month. Fuel we are filling. No maintenance charges paid. We are treating the same under contract and deducting Rs.2.06% from their monthly payment. is it correct? | " |
It willbe under the contract and TDS under Section 194C willbe applicable
tds will come under 194 C if it is a contract or else comes under 194 i
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