NEERAJ BANSAL
(CA Final Year)
(53 Points)
Replied 30 August 2008
it is not correct, bcz both vehicle are on rent not on contract, means in the case of Rent all responsibility of the vehicle like - Fuel, Operator ( Driver), maintenance etc. of the contractee, but in your case you are filling Fuel, & as like Rent you paid to contractor a fixed amt. So it is not a contract you hired a vehicle on foxed amt, so it is a rent.
deduct TDS @ 10.3% u/s 194I
Atul Agarwal
(Business)
(22 Points)
Replied 05 September 2008
I have taken personal loan from banks and other private institutions, should i have to deduct TDS on interest that i am paying? if yes ? at what rate ? if No ? is there any circular / provision from Government ? if yes where can i get it? please reply soon
Nischint
(Article)
(83 Points)
Replied 10 September 2008
| Originally posted by :Guest | ||
| " | We are engaging 2 Vehicles with driver (driver is the owner for that vehicle). One vehicle - Rs.12000 & another Rs.10 k per month. Fuel we are filling. No maintenance charges paid. We are treating the same under contract and deducting Rs.2.06% from their monthly payment. is it correct? | " |
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 17 November 2008
It willbe under the contract and TDS under Section 194C willbe applicable
Sujay C Deshpande
(article)
(80 Points)
Replied 26 November 2008
tds will come under 194 C if it is a contract or else comes under 194 i
CAclubindia
