206AB TDS DEPOSIT ONLINE

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This discussion clarifies the correct procedure for transport companies deducting TDS under section 206AB. It confirms that depositing the tax under section 194C is the appropriate method, even for online payments where a specific nature of payment might not be listed. The advice also reiterates the need to file TDS returns correctly.

Hiru Dada

Hiru Dada (Querist)
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05 September 2021 we have transport company and deduct 5% tds 206AB deposit tax under nature of payment 194C NO NATURE OF PAYMENT IN ONLINE PAYMENT 206AB SO WE HAVE DEPOSIT TAX IN 194C IT IS RIGHT OR WRONG

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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05 September 2021 Yes, that's Right.
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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 September 2021 It's right deposit under 194c.
TDS has to be deducted under the relavant section of TDS at double the rate with minimum of 5% and TDS return filed

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