TDS on RENT - A - CAB
This query is : Resolved
05 March 2009
TDS % for the income generated on Rent-a-cab operation, where the vehicles are dedicated operation for a project and also vehicles provided for non dedicated operations. ALSO MENTION THE SECTION OF INCOME TAX ACT
05 March 2009
tds is to be deducted @ 2.266% if payment are more than rs.20 thousand at a time or total payment is in excess of rs.50000/-in the year
05 March 2009
Section 194C apply. Rate 2%+2%+1%
05 March 2009
in my opinion, rent from cab opreation covered as machinery rental. hence tds is deducted @15% + surcharge + education cess as applicable in case of rent if its exceeds rs.120000/- only
05 March 2009
It will definately come in contract basis Section 194C not in rent 194I, as definition of Rent in this section doent includes the same.
Applicable Section 194C and TDS rate is 2% + Surcharge (if any) + 2% education cess + 1% SHEC i.e. 2.266% or 2.06%
Applicable Section 194C and TDS rate is 2% + Surcharge (if any) + 2% education cess + 1% SHEC i.e. 2.266% or 2.06%
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