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for tds applicable or not

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(Querist)
01 July 2011 if we take service from travelling agency and the agent is the same for whole year and the amount credited/paid is more than 75000/- then tds applicable or not
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chetan soni

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chetan soni (Expert)
01 July 2011 In this case you need to first deduct the cost of tickets booked by the agent from the total invoice value & then see whether the agent crossing the limits mentioned in sec 194C i.e. 75K. If he is crossing the limits then you need to deduct the tds @ % mention in the sec.

Please note traveling agent does not classified as transporter u/s 194C.
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