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Section of tds deduction

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(Querist)
12 July 2012 Company hired car with driver for own employees of Rs. 18000/- per month. In which section TDS will be deducted, 194I or 194C
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
12 July 2012 Section 194C will be applicable.

Rate:
Individual/HUF @1%
Others @2%
No PAN 20%

Threshold Limit:
Annual Payment Rs 75000/- p.a.
Single Bill Rs 30000/-

In your case threshold limit will be crossed so deduct TDS at the applicable rates.
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CA BHARATH KUMAR

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CA BHARATH KUMAR (Expert)
12 July 2012 section 194c applicable . but 194i applicable for only rent
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