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| This query is : Resolved
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Author : Anonymous
( Author )
29 July 2012
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Dear expert,
In case of a Cement dealer (individual), who started business in FY 2011-12 and in the same FY his turnover is 1 caror 5 lacs. In this regard I have some following queries -
1. Whether he sould obtain TAN no. to deduct TDS on freight.
2. Whether he has to file form 26Q from the FY 2011-12 or he can stat from 1st quarter of FY 2012-13.
3. In case transporter providing his PAN, or on time freight is under 35000/- then 26Q is reqired to file or not.
Please advise me.
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CA mahesh birla
( Expert )
29 July 2012
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1.you have to obtain TAN. to deduct TDS
2. Once you obtain TAN then you are liable to file 26q quarterly.
3. yes nil return has to file
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SANYAM ARORA
( Expert )
29 July 2012
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Agree with the reply
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Author : Anonymous
( Author )
29 July 2012
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In all transactions one time freight is to be around 15000/- and transporter provides their PAN printed on bilty.
Even after that am I liable to deduct TDS?
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CA Rahul Jain
( Expert )
29 July 2012
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Liability to deduct TDS arises if in the pervious year books of accounts were required to be audited u/s 44AB.
As the assessee has commenced business in FY 2011-12 and books are required to be audited u/s 44AB in current year, therefore TDS liability will arises from FY 2012-13 onward.
Further, TDS shall not be deducted on payment to transporter if the transporter provides PAN. However, the TDS return shall be filed mentioning other details of transporter from FY 2012-13 onwards.
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Author : Anonymous
( Author )
29 July 2012
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So it is the high time to obtain TAN ?
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CA Rahul Jain
( Expert )
29 July 2012
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Yes. Also file the belated return for the quarter ending June'2012
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