Equipment hire charges tds u/s

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 July 2014 Sir, our company has hired a G set , on that Paying Hire chareges of Rs 159600.00 on monthly basis. My query is that the invoice raise by party is of hire charges of Rs 140000+ Vat @14% of rs 19600 , total invoice is of Rs 159600, whether TdS is deductable on whole invoice or not and on which section.
Please help me out

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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04 July 2014 yes on gross amount including vat tds is deductible.

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Rupesh Jain

Rupesh Jain (Expert)
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04 July 2014 if you take the generator and diesel exp. born by you then tds will deducted u/s 194I @2% if your rent exceeds rs. 180000/- in year.

if all expenses by vendor then you can deduct the TDS u/s 194C @ 1% on individual/HUF or 2% otherwise.

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Querist : Anonymous

Querist : Anonymous (Querist)

05 July 2014 Thanks for your sugestation