Current rate of tds on leased car rentals

This query is : Resolved

Mahendra Singh Dhatarwal (Querist)
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17 November 2011 Hi,
We are a pvt ltd co & hired a car on lease rent from a company.....what is the current rate of tds will be applicable on rent paid for leased car?

Your quick response would be highly appreciated.

Thanks & Regards
Mahendra S Dhatarwal

Yash Anandkumar Mandavia

Yash Anandkumar Mandavia (Expert)
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17 November 2011 The issue was contradictory earlier that whether to classify the same as 194C or 194I. But as now the TDS rates are revised, the issue is resolved. The rate is 2% and the section, in my opinion, is 194C. The same is there for 194I as well

Mahendra Singh Dhatarwal

Mahendra Singh Dhatarwal (Querist)
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17 November 2011 Thanks very much Mr. Yash.

Thanks & Regards
Mahendra S Dhatarwal

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