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
Please help me out
04 July 2014
yes on gross amount including vat tds is deductible.
Message likes :
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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.
if all expenses by vendor then you can deduct the TDS u/s 194C @ 1% on individual/HUF or 2% otherwise.
Message likes :
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Querist : Anonymous
Querist :
Anonymous
(Querist)
05 July 2014
Thanks for your sugestation
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