Company has signed a car lease agreement with a leasing company. Down payment was made for leasing. Monthly instalments to be paid covering car lease charges. At the end of the lease car will be sold back to company at 10% of the value. Whether TDS is applicable for the down payment and the monthly lease amounts. Please clarify
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Tds on car lease amounts
Replies (3)
since it is a contract for lease car ,tds is applicable under sec 194c
I agree with Mr. Valji
Yes.... These transactions attracts TDS u/s 194C
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