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TDS on Vehicle Rent

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(Querist)
22 February 2011 Sir,

If vehicle is given on rent for hire for Rs.50000/- per month on a contract basis, and TDS is deducted, will it be covered U/s 194C or 194I?
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
22 February 2011 section 194I..
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
22 February 2011 In my opinion, 194C would be applicable.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
22 February 2011 TDS to be deducted u/s 194C.
Rate of TDS:
Individual/HUF 1%
Others 2%

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