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Tds applicable in hiring of water tanker for business use..

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(Querist)
15 April 2014 Dear sir, if we hiring a water tanker on a monthly basis for supporting our business ..under which head TDS to be deducted u/s 194 c or 194 I...?..pls explain n why that section will effect
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
15 April 2014 If water tank is kept with the company's premises when it is not use(means for ideal time also) then it is rent and TDS liability u/s 194I otherwise means you have an agreement with the water tanker to supply water every day based on no of tanks or no of trips etc... then it is contract and TDS liability u/s 194C.

OM SAI SRI SAI JAI JAI SAI
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Rupesh Jain

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Rupesh Jain (Expert)
16 April 2014 you can take under 194C for contract for supply of water tanker .

deduct the tds 1% or 2% according to status of supplier.
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