TDS on Rent
This query is : Open
01 September 2009
Dear sir
I want to know that if machinery is taken on rent along with its operator then at what rate TDS will be deducted?
whether it will fall under 194C or 194I?
pl reply soon
Regards
CA Hiral
I want to know that if machinery is taken on rent along with its operator then at what rate TDS will be deducted?
whether it will fall under 194C or 194I?
pl reply soon
Regards
CA Hiral
01 September 2009
it will be u/s 194J & the applicable rate will be 10%+surcharge (if any)+ 3% education cess
01 September 2009
Dear sir
Thanks for the reply but in any case it will not fall under 194J as it is not at all covered under professional services.
Regards
CA Hiral
Thanks for the reply but in any case it will not fall under 194J as it is not at all covered under professional services.
Regards
CA Hiral
03 September 2009
Hi Hiral
In any case it will fall under 194I of the Income tax Act. In any way it will not fall under 194J. There is some changes regarding the tds rate. You just go through Income tax act(updated)just has recently published by incorporating the changes of this budget.
In any case it will fall under 194I of the Income tax Act. In any way it will not fall under 194J. There is some changes regarding the tds rate. You just go through Income tax act(updated)just has recently published by incorporating the changes of this budget.
03 September 2009
Thanks for the reply.
I have heard that if euipment is hired with its operator then it will fall under 194 C and in other case it ill fall under 194 I.is it true?
please clarify because till date i deduct TDS under 194C.
Thanks in advance
I have heard that if euipment is hired with its operator then it will fall under 194 C and in other case it ill fall under 194 I.is it true?
please clarify because till date i deduct TDS under 194C.
Thanks in advance
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