Liab. to deduct tds on pymt to non resident transporter
This query is : Resolved
JYOTI MITTAL
(Querist)
13 August 2014
Whether there is any liability of an Indian transporter Co. to deduct TDS on payment of freight to non resident transporter in Bhutan in Indian Rupees & if yes then whats the rate s at which deduction is to be made (when PAN of the non resident transporter is not available).
CA Mohit Bansal
(Expert)
13 August 2014
Yes the TDS should be deducted @20% of the amount paid to foreign transaporter
JYOTI MITTAL
(Querist)
13 August 2014
if you could please refer the section as there is no such requirement as per Sec 195 of IT Act,1961.
Rupesh Jain
(Expert)
13 August 2014
u/s 195 you make payment to non resident then you have to deduct the TDS @ 10% but non resident have no PAN then you have to deduct the tds @ 20%
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