tds on reimbursement of fuel?
This query is : Resolved
10 February 2011
A company has hired a car from an agency for its employees. The agency sends the car in the morning picks up the employees and stays with the company for the full day. the car is also used for various other official purpose, at the end of the day the car drops the employee. At the end of the month the agency is sending a consolidated bill containing the fixed rental part and reimbursement of petrol, mobil according to the kilometers travelled and driver's overtime expenses .
What should company do, on what amount the company should deduct TDS and at what rate?
What would be the position if the agency is submitting a two separate bills for one for hire charges and another for reimbursement of fuel???
What should company do, on what amount the company should deduct TDS and at what rate?
What would be the position if the agency is submitting a two separate bills for one for hire charges and another for reimbursement of fuel???
10 February 2011
You should deduct TDS u/s 194C of the Act on the total amount of the bill including reimbursement of Petrol Expenses.
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