Tds applicable in hiring of water tanker for business use..
This query is : Resolved
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
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
OM SAI SRI SAI JAI JAI SAI
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.
deduct the tds 1% or 2% according to status of supplier.
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