What will be the rate of TDS On rent paid for a bus used by the Company for a particular function.
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Tds on rent of a vehicle
Replies (9)
The rate of TDS is 2% (rent for use of plant/machinery)
Agree with Shiva. TDS @ 2%.
Right. TDS u/s 194C is applicable.
if receipient is an individual or HUF than TDS rate is 1%
if receipient is other person than TDS rate is 2%
Tds U/S 194 I apply rent for use plant and machinery
How can section 194c . It is 194I where threshold limit is 1,80,000
As the amount paid is in the nature of rent 194I will be applicable instead of 194C
TDS on rent of plant & machinery is u/s 194I at 2%. However, here the bus was used for the purpose of a particular function only. Usually, travel agents are contract carriers. If you are taken the bus was on rent section194I is applicable. Rgards
Here rent paid towards an agreement under a contract for a special occasion or function.hence contract theme arises. Therefore, 194 C attracted
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