30 June 2008
Whether hiring of car(Tata Sumo)/bus will atribute Sec-194C or Sec-194I(Rent on Plant & Machinery)in case of 1.hiring on monthly basis? 2.hiring on daily basis?
01 July 2008
First car, vehicles etc., does not come under Plant and Machinery. So there no need to apply sec.194I. Sec.194C apply where payment exceeds the prescribed limits. Interpret section correctly.
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