07 August 2009
Whether TDS is to be deducted on hire of storage tank @ 2% plus SC and EDU.CESS as applicable or TDS is required be deducted as per provisions of section 194I.Whether amendement wef 1.6.2007 in section 194I will specifically cover it? If yes, than what was required to be done prior to this amedement?
07 August 2009
Storage tank is a plant. As rightly pointed by you, it is covered under 194I.
Prior to the amendment refered by you, hiring of equipments etc, were nit covered under TDS provisions, unless the hiring in essence was a service contract.
CAclubindia
