can anybody tell me what is the difference between machine taken on hire and machine taken on rent. If there there is any diff. then what would be the applicable rates of TDS.
girish mangla (practice) (206 Points)
30 July 2008can anybody tell me what is the difference between machine taken on hire and machine taken on rent. If there there is any diff. then what would be the applicable rates of TDS.
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 31 July 2008
When you take over (without ownership)something for a short period of usage it is taking on hire. When you take over something for a longer period of usage it is taking on lease. Both the cases the consideration you pay is rent (either in the form of hire charges or lease rent).
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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