Hire charges towards vehicle rent to spouse - Tds applicability

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..... Hire charges towards vehicle rent to spouse - Tds applicability
Query (Issue) Started By: - SANJAY MACHE Dated:- 30-12-2009 Last Reply Date:- 31-12-2009 Other Topics
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Indian Laws< .....

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..... br>Whether I can pay hire-charges towards vehicle rent to my spouse, who has car in her name? Whether TDS needs to be deucted towards such payment? If yes at what percent? Reply By DEV KUMAR KOTHARI: .....

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..... The Reply: If you really use the car owned by your wife for your business or profession then naturally you must pay a reasonable hire charge to your wife. Reasonableness of hire will depend on extent .....

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..... of use for business or profession, condition of car, hire charges chargeable by others on similar terms and conditins as to time of deployment, use, repair, fuel, driver, insurance and other expenes .....

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..... to be born by you or the owner etc. TDS, will be u/s 194-I (a) @ 2% w.e.f. 01.10.09 and before that @ 10% if the payment of hire charges in any year exceed Rs.120 K.
Discussion Forum - Knowledge .....

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..... Sharing .....

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