We hire crane-hydra now what is TDS rate charge?

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Accountant
25 Points Posted on 17 July 2020

Will you please guide for what amount of Rate charges for TDS? and under which section?

 

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On 17 July 2020 at 16:22 Report
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This discussion clarifies the Tax Deducted at Source (TDS) rate for hiring crane-hydra services. The consensus is that TDS should be deducted under Section 194I of the Income Tax Act. The applicable rate for this type of transaction, considered as hiring of plant and machinery, is 2%.

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Student
360 Points Posted on 17 July 2020
TDS for Hiring of the crane-hydra, TDS is to be deducted u/s 194I @ 2% as the same is in the nature of Hiring of Plant and machinery.
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On 17 July 2020 at 17:58
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1102 Points Posted on 17 July 2020
2% TDS rate as per sec 194I
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On 17 July 2020 at 21:21

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