Sec 194 I or 194C
This query is : Resolved
03 May 2011
We are paying Fixed hire charges for Car taken on 12 hrs / day basis. Overtime, if any is paid in addition to fixed monthly hire charges.
Currently TDS is being deducted U/s 194 I.
Whether it is correct or TDS to be deducted U/s 194C
Currently TDS is being deducted U/s 194 I.
Whether it is correct or TDS to be deducted U/s 194C
03 May 2011
THE TAX OIS TO BE DEDUCTED UNDER SECTION 194C SEE Tata AIG General Insurance Company Ltd. v. ITO (2011) 37 (II) ITCL 116 (Mum ‘H’-Trib)
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