WebTDS is deducted irrespective of the mode of payment–cash, cheque or credit–and is linked to the PAN of the deductor and deducted. Generally, TDS is deducted on the following types of payments: Salaries Interest payments by banks Commission payments Rent payments Consultation fees Professional fees Dividends Windfall gains WebOct 7, 2013 · The transport service/company does not provide. the drivers, petrol and day to day cleaning and. maintenance. The rate of TDS for all with effect. from 1st June 2007 is …
194c TDS - Income Tax TDS #329346 - CAclubindia
WebOct 10, 2012 · 10 October 2012 TDS on hire charges of taxi/car charges may be covered under two section.Its all depends upon details of the contract between taxi owner and user. 1.194 C 2.194 I To decide under which section it should be covered we have underlined some major points WebJan 30, 2024 · The TDS rate applicable under different sections & subsection of is between 1%- 30%. *Threshold amount is the max. amount exempt from TDS. The above rates are indicative and may change based on government notification. Other indirect taxes such as service tax, TDS are also collected prior release of a payment. inauthor: chinua achebe
TDS under Section 194I Or Section 194C for Car hiring charges?
WebFeb 11, 2024 · (a) motor vehicles for transportation of persons having approved seating capacity of not more than thirteen persons (including the driver), except when they are used for making the following taxable supplies, namely :- (A) further supply of such motor vehicles; or (B) transportation of passengers; or WebJun 11, 2015 · Invoices Rs.2000/-,Rs,15000,...It is expected that it will exceed Rs,75,000/- Later on. 2) What if TDS is applicable, no tds deducted till now, is there any penalty if i deduct tds on if it exceeds Rs,75,000/-. 3) No written agreement with ambulance agency WebJul 19, 2024 · As per section 194-I dealing with deduction of tax at source from payment of rent, the rate of TDS applicable is 1.5% for machinery hire charges and 7.5% for building lease rent. The rates are applicable if payment is made after 14th May 2024. The scope of the section includes within its ambit, rent for machinery, plant and equipment. inauthor: david r. krathwohl