GREETINGS OF THE DAY!
PLEASE LET ME KNOW, AT WHICH RATE TDS SHOULD BE DEDUCTED ON HIRE OF GENERATOR.
WHETHER IT WILL COME U/S 94C OR 94I?
THANKS IN ADVANCE..
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TDS RENT
Replies (1)
Well as per my opinion if the person taking the asset on lease bears the running & maintanance cost also then the TDS should be charged u/s 194I, while if running & maintanance is being borne by the actual owner then it is a case of composite contract hence TDS would be charged u/s 194C @ 1% or 2% as the case may be..
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