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Required tds rate on fright payment

Anil sharma (Student CA Final ) (154 Points)

26 April 2017

on what rate tds deducted for payment of freight ,,,, on what is the limit on which tds deducted.... and if tds is not required to deduct then how to shown such detail on tds quarterly return for the period Q4 f. y. 2016-17

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8 Replies

(Guest)

tds on freight comes under contract 194c

if bill amoout if one bill more than 30000/- or more

or total of all bills more than 100000/-

then tds @ 2% if company and firm or llp or rest 1%

sivaram (Asst Mgr-Taxation) (6918 Points)
Replied 26 April 2017

TDS applicability arises if transporter has more than 10 Trucks for a transporter having less than 10 trucks no tds is applicable provided a declaration to that effect is given by the transporter

Shivangi Goswami (Student CA Final ) (46 Points)
Replied 26 April 2017

In case of freight payment, TDS deducted u/s 194C at the rate 1% (Individual/HUF) and 2% (Others). Threshold limit u/s 194C, Rs.30000/- for one transaction and Rs.100000/- during the year. For non deduction of TDS, You need to take declaration from transporter under subsection 6, section 194C under IT Act,1961 in prescribed format. You can file quarterly return with reasons of non deduction.

Anil sharma (Student CA Final ) (154 Points)
Replied 26 April 2017

if the fright payment is less than 30,000 then there is no requirement of deduct tds, but my question is that how to shown in quartly tds return

Anil sharma (Student CA Final ) (154 Points)
Replied 26 April 2017

if the fright payment is less than 30,000 then there is no requirement of deduct tds, but my question is that how to shown in quartly tds return, because tds is not deducted due to limit of 30000..

(Guest)

show those bills in tds returns on which tds is deducted

rajesh ranjan (student) (22 Points)
Replied 29 April 2017

file return with category as " T" i.e transporter with full gross amount paid and tds will be "nil"

Seku Madhu (Accounts Officer) (34 Points)
Replied 09 May 2017

TDS applicability arises if transporter has more than 10 Trucks for a transporter having less than 10 trucks no tds is applicable provided a declaration to that effect is given by the transporter