TUSHAR KANTI BHATTACHARYA (Lawyer) (83 Points)
11 July 2018One of my client has purchased a car and give the same for hire to a company but there some tax been deducted under section 194IA. What will be the treatment in this case. Its very urgent and how can he filed his Income Tax return and in which ITR Form.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(166227 Points)
Replied 13 July 2018
TDS deducted over rent of plant & machinery @ 2% over rental income u/s. 194I.
He can file ITR3 or ITR4 under presumptive assessment.
TUSHAR KANTI BHATTACHARYA
(Lawyer)
(83 Points)
Replied 14 July 2018
Mr Rambhia, I mentioned about the section 194IA and you have written on 194I. Is the application of this two sections are same. I will wait for your reply.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(166227 Points)
Replied 14 July 2018
What is the rate of TDS deducted?
If 2 % ......... Sec. 194I.. for Rent....for Plant & Machinery (here, car)
If 1% ........Sec. 194IA....... for transfer of certain immovable property other than agricultural land
TUSHAR KANTI BHATTACHARYA
(Lawyer)
(83 Points)
Replied 14 July 2018
Then Sir, this sections are not applicable on my given case, which I have posted in this thread. Then may I treat my case as good as section194c?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(166227 Points)
Replied 14 July 2018
Check the TDS certificate (form 16A) and decide ..........
ayan shah
(4 Points)
Replied 15 October 2018
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ayan shah
(4 Points)
Replied 15 October 2018
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