09 January 2009
I got a chance where i visited a car rental company it is basically a radio taxi services.
What they do is that they give there cabs on rent and then they debit them with such rent again they give them some duty for which they give them credit in there account.
When the duty exceed rs 50000 they deduct T.D.S. treating them to be subcontractor. but they only deduct tds on net of of amount . eg if rent is 50,0000 and credit duty is 150,000 them they only deduct T.D.S. on rest 100, 000 . how should i explain them to satisfy what is the exact amount for them to deduct the T.D.S.
CAclubindia
