regarding deductibility of tds
This query is : Resolved
27 July 2010
MY ASSESSEE IS ENGAGED IN GTA SERVICES AND THERE IS A EXPENSES "LORRY HIRE CHARGES" IS BEING DEBITED TO THE P&L A/C....WHETHER MY ASSESSEE IS REQUIRED TO DEDUCT TDS ON THIS TRANSACTION.....WHETHER THIS IS A CONTRACT NATURE TRANSACTION......AND SAME LORRY IS REPEATED MORE THAN 10 TIMES IN A YEAR AND PAYMENT IS EXCEEDING RS.50000 P.A.MONETARY LIMIT....
PLEASE REPLY SOON IT'S URGENT....
THANKS IN ADVANCE
PLEASE REPLY SOON IT'S URGENT....
THANKS IN ADVANCE
27 July 2010
Dear Rohit
If the Lorry Hire Charges are paid to outside parties than on net payment the TDS is required to be deducted.
As far as the repairing is concern if payment is exceeding 50000/- for service charges only (and NOT THE COST OF MATERIAL) than too ur required to deduct TDS
caaashishupadhyay@gmail.com
If the Lorry Hire Charges are paid to outside parties than on net payment the TDS is required to be deducted.
As far as the repairing is concern if payment is exceeding 50000/- for service charges only (and NOT THE COST OF MATERIAL) than too ur required to deduct TDS
caaashishupadhyay@gmail.com
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- Booth for sales promotion
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- FEMA regulation Act. for inward remitance
- GST ON TRAVELLING BILLS
- F & O PROFIT REPORTING FOR AY 2026-27
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
