what is the rate of tds in case a company is paying generator hire charges?
co. is also paying car hire charges and it is bearing maintenance expenses of the car. then what is the rate of tds?
3 Replies
CA Kiran.H.G
(Chartered Accountant)
(79 Points)
Replied 09 June 2013
Genarator comes under the category of Plant & Machinery. Renting of generator falls under section194-I i.e., two per cent for the use of any machinery or plant or equipment.
TDS on Hire charges for Vehicles needs needs to be done unders 194C i.e., as contractors. 194-I is not applicable for renting of vehicles.
Sindhuja
(Final Student)
(113 Points)
Replied 10 June 2013
does tax need to be deducted for maintenance charges also??
CA Suryakant Dubey
(CA )
(931 Points)
Replied 10 June 2013
Tax is required to be decucted in case of AMC under 194c
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