Car hire charge
Querist : Anonymous
DEAR ANONYMOUS,
when ever taxi or any other vehicle booked for a specific Job like giving a contract to take employees from home to office and office to home .In these type of work a specific job has been assigned to vehicle and vehicle has not been hired as such so it should be covered u/s 194C and not under section 194I .
Querist : Anonymous
1. Land
2. Building including factory building
3. Land appurtenant to a building including factory building.
4. Machinery
5. Plant
6. Equipment
7. Furniture
8. Fittings
Car does not fall in any of above category...
Relevant circular on this issue:Circular : No. 558, dated 28-3-1990.
AND Supreme Court judgment in Associated Cement Co. Ltd. v. CIT [1993] 67 Taxman 346/201 ITR 435,
Rate under the section:
U/s 194 C basic rate 2 % minimum limit per contract 20000 or 50000 per annum.
REGARDS
Querist : Anonymous
Now close the matter. TDS will be charged u/s 194C.
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