can u tell me, is tds applicable on rent received from vehicle?
Vishal Joshi (CA & CS FINAL) (128 Points)
06 March 2009can u tell me, is tds applicable on rent received from vehicle?
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 07 March 2009
TDS is not applicable on receipts but it is applicable on payments by the deductor.
And please explain ur query further, i think it is incomplete.
Nikunj
(Chartered Accountant)
(53 Points)
Replied 07 March 2009
yes, if you are making payment for car rent then you have to deduct TDS to be on a safer side at the rate applicale to plant & machinery.
CA Sakshi
(CA Practice)
(309 Points)
Replied 08 March 2009
TDS applicable on hire charges paid . The payer paying the hire charges is required to deduct TDS @ 10.3%
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