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TDS U/S194I ON CAR/CRANE HIRE CHARGES

TDS / TCS 6000 views 4 replies
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16 Points Posted on 10 May 2007
IS TDS U/S 194I DEDUCTIBLE IN RESPECT OF CAR HIRE CHARGES PAID BY A COMPANY TO CAB OPERATORS  AND CRANE/FORKLIFT HIRE CHAGES PAID TO INDIVIDUAL OPERATORS AS THE DEFINITION OF PLANT INCLUDES VEHICLES.
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On 10 May 2007 at 16:20 Report
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CA Practice
63 Points Posted on 10 May 2007
Yes Plant includes vehicles. TDS on hire of crane, etc subject to 194 I
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On 10 May 2007 at 16:20
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practice
42 Points Posted on 10 May 2007

194 i deals with rent(lease or sublease) for the use of land or building inlcuding factory building or for both land and building with furniture or fittings and land apputyrnsy there to.


Car/Crane hire charges come under 194c as it is works contract.
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On 10 May 2007 at 16:20
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320 Points Posted on 10 May 2007
Amendment has been made by Finance Act 2006 and as per this the plant, machinery, equipment even independent of land building are liable for deduction of TDS as rent u/s 194I
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On 10 May 2007 at 16:20
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13 Points Posted on 10 May 2007
Before the Amenmendment by Finance Act 2006 i.e. upto June the hire charges come under Section 194 C & TDS thereon was 2.244%(2.04). But from July onwards as definition of has includes  the plant, machinery, equipment even independent of land building are liable for deduction of TDS as rent u/s 194I
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On 10 May 2007 at 16:20


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