TDS ON RENT PAID FOR A CAR

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shweta jain (Querist)
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01 April 2009 AT WHAT RATE AND UNDER WHAT SECTION SHOULD TDS BE CHARGED ON THE MONTHLY FIXED RENT PAID FOR THE USE OF CAR BY A COMPANY.

VIPUL BHANDARI

VIPUL BHANDARI (Expert)
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01 April 2009 please clarify question clearly, i means rent paid is coporate assessee or individual assessee !

then i can tell u about the rates

shweta jain

shweta jain (Querist)
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01 April 2009 rent is paid by a co. to an individual.
it is more than 120000 in a year.
if the person receiving the rent is the wife of CEO wud the related party clause come into effect??

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shweta jain

shweta jain (Querist)
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01 April 2009 how would the use of car i.e. for personal or official purpose effect the tax structure??

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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01 April 2009 if amount of total rent exceeds 120000 than u r required to deduct tds u/s 194 I
and rate will be basic 11.33% if surcharge is applicable and 10.3% without surcharge

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