On tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 March 2015
on what basis we have to deduct TDS paid as a transport Expense {i.e whether any Threshold limit's are their}
02 March 2015
If PAN provided by the transporter then no TDS required to be deducted.
No deduction shall be made from any sum credited or paid or likely to be credited or paid during the previous year to a contractor who is in business of plying, hiring or leasing goods carriages, on furnishing of his Permanent Account Number, to the person paying or crediting such sum.
No deduction shall be made from any sum credited or paid or likely to be credited or paid during the previous year to a contractor who is in business of plying, hiring or leasing goods carriages, on furnishing of his Permanent Account Number, to the person paying or crediting such sum.
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02 March 2015
Also remember that the details of payment to such transporters along with their valid PAN needs to be shown in the TDS return with TDS amount being Nil.
03 March 2015
if no pan provided then 20% shall be the rate of tds,
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Querist : Anonymous
Querist :
Anonymous
(Querist)
19 May 2015
thanks for your information sir
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