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TDS

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Guest

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Guest (Querist)
05 August 2009 Do we need to deduct TDS on transport charges for 2008-2009 and which rate .
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
05 August 2009 For FY 2008-09 TDS is compulsory to deduct on transport charges at the rate of 2% plus Surcharge if applicable plus Edu.Cess.
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Ratan Sharma

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Ratan Sharma (Expert)
05 August 2009 Agree with Mr. Tarun



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Guest

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Guest (Querist)
05 August 2009 I hope the toatl amount should exceed 20,000 per year per party.Thanks a lot for Tarun and Ratan .
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
05 August 2009 It is liable if either a single bill exceeds Rs. 20000/- or if all the bills in aggregate exceed Rs.50,000/- during the year. In these cases only TDS is liable to be deducted on transporter.
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Abhishek Ranjan Singh

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Abhishek Ranjan Singh (Expert)
06 August 2009 TDS 2%
Surcharge 10%
ED Cess 3%
Total 2.266% in case of sur charge otherwise it will 2.06%

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