Hamali / Loading & Unloading Charges Payment entry

This query is : Resolved

Quick Summary

Record hamali charges by debiting a single Hamali A c and crediting cash or bank to keep accounting simple. No TDS on direct labour payments within limits. TDS under 194C applies if paid via contractor. No TDS on lorry freight if transporter owns less than 10 vehicles. Meta Title: Hamali Entry in Tally and TDS on Labour and Freight

PADARTI SUBBA RAO

PADARTI SUBBA RAO (Querist)
Follow

12 June 2021 Hey , Can anyone help me in this query.
what is the best practice to record the hamali payment entry in Tally i.e. In case 1. Debit... Hamali A/c & Credit .... Cash / Bank A/c. In 2nd Case Debit.... Hamali Name A/c & Credit .... Cash / Bank A/c. In case 1, only one ledger will be maintained i.e. Hamali A/c . In case 2, Hamali Name1, Hamali Name2, 3, 4......... etc ledgers will be opened.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

14 June 2021 Debit.... Hamali A/c & Credit .... Cash / Bank A/c. Only one ledger will be maintained i.e. Hamali A/c .

Message likes : 1 times

PADARTI SUBBA RAO

PADARTI SUBBA RAO (Querist)
Follow

20 June 2021 is TDS applicable on Hamali/ Loading & Unloading Charges/ Labour charges/ Manufacturing Cooly? Please clarify me sir?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

20 June 2021 No TDS if directly paid to labours as it will not cross taxable limit.. TDS applicable in case of payment through contractor 194c applicable if cross threshold.

PADARTI SUBBA RAO

PADARTI SUBBA RAO (Querist)
Follow

22 June 2021 Thank you so much for your reply sir, amount is directly paying to labours and such amount is exceeding 1,00,000 for a year per one labour then we deduct TDS or not? Please clarify me sir? What is the TDS impact on Lorry freight i.e. lorry freight charges exceeds 50,000/- per one trip and we obtaining declaration / affidavit certificate from lorry owner that he has a less than 10 vehicles and no TDS certificate . But the same lorry repeats for the firm for so many times per a year ( roughly monhly 2 or 3 times). Then what is TDS effect?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

23 June 2021 No TDS applicable in case labour payment. It's less than 5 lacs per person.
No TDS applicable on lorry freight in such a case ( less than 10 vehicles), irrespective of how many trips they do.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Arun Mahaldar

CA Sabrish Nair

REGIWISE CONSULTANTS PVT LTD

K.M. AGGARWAL

Ashif Cheenikkal

Subscribe Now

Hamali / Loading & Unloading Charges Payment entry

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA