04 November 2008
A company is having 3 cab providers and one provider is for providing Transportation of employees from home to office and office to home and the company is having an aggrement with that party that rate will be fixed based rate per Km. Where as for the other two the company is taking services as and when required like receiving guest and insufficient cab serevice by first one and in any other cases. There is no written contract but there are some mail confirmations that the rate was fixed. The Comapny is Charging TDS as contract for all the parties.
What are conditions to be fulfilled by the parties to treat as contract in case of Car hire?
When can we say it as a Hire ?
Give me the details with reference to Income tax Act ( Either notifications or circulars )
CAclubindia
