Aditya (Final student) (92 Points)
24 July 2008I am confused at a point, Hire of vehicles is classified under Sec 194C, but does the term vehicles include Tractors and tippers?
Q2:Tractors and Tippers are commercial and specific use, classifying it as vehicles makes them multi pupose, is there any article supported to the query?
Q3:What would be the deduction of Tax for the Hire charges paid on them, under Sec 194I or C?
[P.S.: both are for a specific use for collection and excavation work.]
CA Hemant T Dewani
(Chartered Accountant)
(3356 Points)
Replied 24 July 2008
"Work" wherever referred to in this section shall include:
Advertising;
Broadcasting and telecasting including production of programs for such broadcasting or telecasting;
Carriage of goods and passengers by any mode of transport other than by railways; and
Catering;
Transport Contracts;
Service Contracts;
Labour Contracts;
Materials & Works Contracts
you have to deduct tds if payment is in ecxcess of rs 50000/-& you are not an indivdual if you are an individual & liable to tax audit then tds is to be deducted
CAclubindia
