25 September 2013
If there is a contract of hiring of a DG set on a monthly chargeable basis between Company and a sub-contractor who is an individual, then under which Sec TDS will be deducted, 194C or 194I? Is TDS to be deducted under 194I @ 1% considering it as an hire of equipment or under 194C @ 2% considering on a contract basis?
25 September 2013
thanks sir... what will be the situation if contract is for hiring of vehicle? Is there any difference in application of TDS if vehicle is used for carrying passenger or equipment?
25 September 2013
If fuel and maintanance expences for DG set IS borned by contractor and he is collecting fixed sum it is contract and 194C applicable . . where as person who hired DG only paying for fuel and maintanance expences it is taken as rent paid to dg and 194I applicable @ 2%
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