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TDS on Ocean Freight (Income Tax)

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This query is : Resolved


( Author )
19 November 2007

Is TDS applicable on Ocean Freight?


CA. Vineet Grover

( Expert )
19 November 2007

TDS is not applicable on Ocean Freight. But if we enter into a contract with the shipping agent wherein all the goods shall be shipped through him then TDS shall be deducted u/s 194C


R.V.RAO

( Expert )
19 November 2007

UNDER SEC 194 C , IF PAYMENTS ARE MADE TO SHIPPING AGENTS OF NON RESIDENT SHIP OWNERS, ,SINCE THE AGENT ACTS ON BEHALF OF NON SRESIDENT SHIP OWNER OR CHARTERER,THERE IS NO TDS ATTRACTED.
OTHERWISE IF PAID TO A RESIDENT TDS IS ATTRACTED ON FREIGHT PAYMENT .(EVEN IF IT IS FRIEGHT TO PAY BASIS FOR GOODS RECEIVED.)
IT IS A DIFFERENT MATTER THAT EXPORT INCENTIVES MAY CONSTITUTE REIMBURSEMENT OF FRIEGHT PAID BY ELIGIBLE EXPORTERS.
R.V.RAO


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