Payment to transpoter

This query is : Resolved

Kanhaiya Lal Verma (Querist)
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08 November 2012 Dear Experts

on how much amount paid to Transporter TDS will be deducted and It is necessary payment is maid by cheque

Thanks

vermakl_1981@yahoo.co.in

@VaibhavJ

@VaibhavJ (Expert)
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08 November 2012 Hi

For transporter TDS to be deducted @2%. You can make payment in cash upto Rs.20000/-

Thanks//Vaibhav
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CA Sahil Singla..

CA Sahil Singla.. (Expert)
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08 November 2012 No TDS to be deducted if transporter is having PAN. IF No PAN, then dedcuct TDS at 20%
Payment in cash cab be made upto rs 35000 in single day.

Kanhaiya Lal Verma

Kanhaiya Lal Verma (Querist)
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09 November 2012 Respected CA Sahil Sir
If I made a payment to Transporter in a FY Rs 1 lac or more then TDS will be deducted or not.
and If I paid Rs 35000 in a single day then Sec 40B will not affected?

CA Sahil Singla..

CA Sahil Singla.. (Expert)
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09 November 2012 Sir

No TDS whatever be the amount.
Yes. Section you can pay Rs. 35000