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Issue ID : 115158

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TDS % and section

Boat Rental Business Faces 2% TDS Rate Under Section 194I for Monthly Payments of 1,00,000.

RSANTIYA PANDI · 2019-07-06T18:28:58+05:30

A query was raised regarding the applicable Tax Deducted at Source (TDS) rate and relevant section for hiring a boat for business purposes at a monthly rent of 1,00,000. The response provided suggested that under Section 194I of the Income Tax Act, a TDS rate of 2% should be applied to the boat hire charges.

06 Jul 2019

1 Answers

1326 Views

Asked By

RSANTIYA PANDI

DEAR SIR,

We hired a boat with Individual person for diving purpose ( business ), monthly rent is ₹ 1,00,000/-. How much TDS should i deduct on boat hire charges and what is section for that ?

Kindly advice.

Brdgs

1 answers

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Old Query - New Comments are closed.

DR.MARIAPPAN GOVINDARAJAN

Replied on Jun 28, 2020

In my view under section 194I - 2%

Old Query - New Comments are closed.

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