Tds Rates For Rent

 Thanks Praveen 

tds rate for F.Y. 2009-10 for building is 15.45% inculsive cess if receipt is HUF/individual and 20.60 for others and in case of rent for plant and machinery TDS rate is 10.30% inclusive cess.

CA. Nagendra Sharma

I am received Rent on Vehicle hire but company deduct TDS @ 10.30%

could you pls confirm me correct TDS Rate?

Regards

Ajit Dalvi

It seems to ok

if he deduct TDS u/s 194I

people use to deduct tds on vehicle diferently

Rate under both The section:
 

• some deduct u/s 194 C basic rate 2 % minimum limit per contract 20000 or 50000 per annum
   
• & some deduct u/s 194 I basic rate 10% minimum amount 120000 per annum

i think there is no prob. if company pays to after deduction of 10.30%

if any expert hv differnt view. please let us know

Thanks

Praveen

cOMPANY DEDUCT UNDER SECTION194I (RENT OF PLANT & MACHINERY)

hi friends,

TDS on vehicle rent comes under two categories

1. 194 I

2. 194 C

For this you have to go by the contract terms

If only car is hired with out any conditions then it comes under 194 I

if the contract says some thing like providing driver, min no of Kms to be run or petrol charges for usage some thing like that it comes under 194C

So, go by the contract