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TDS on Hire of Car/Bus for travelling of students

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(Querist)
08 July 2009 My client is inolved in academic business and has taken a CAR on hire for transporting the students from Hostel to Academy.....Is he liable to deduct TDS on Basis of Contract for Transporting Students(194C) .... OR on the basis of Hire Charges for CAR(194I-Rent)...Please assist..
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CA Tilak Raj Sharma

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CA Tilak Raj Sharma (Expert)
08 July 2009 194I will be applicable, now it is okay as new rate is 2%.
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Ratan Sharma

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Ratan Sharma (Expert)
08 July 2009 Agreed.
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