19 January 2016
Payment of Rent on Hiring of Truck covered under 194C or 194I???
ABC LTD hires trucks from various parties under rent agreement. The agreement contains clause that the expenses such as diesel, oil, tyres etc will be borne by ABC LTD. The control will be of the ABC LTD. Hence, under these circumstances under which section TDS is to be deducted? 194C or 194I?
Also ABC Ltd wants to claim the expenses, the bills of which are in the name of the owner of the trucks. Is there any way out by which such bills can be claimed as an expense by ABC Ltd?
CAclubindia
