regarding tds

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gurru (Querist)
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20 January 2010 we are a individual firm.Last month, we have purchased material from a company. we made payment of Rs 8000 to transporter as freight for supplying goods.we did not deduct tds. i want to know whether we had to deduct tds in that case. kindly guide me regarding pyt to transporter & deduction of tds,date of deposit of tds & tds returns to be filed.

CA Prashant Gupta

CA Prashant Gupta (Expert)
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20 January 2010 TDS on transporter covers u/s 194C
it says if one bill is more than 20,000/- or aggregate bill for F.Y. is 50,000/- or more then you should deduct TDS.
From 1 Oct 2009 if a transporter of goods provides his PAN to you then No TDS liability on it.
So take PAN of transporter if bill and payment is after 1 Oct 2009. But in case payment is only 8000/- not more then 20000/- and no other payment in year so no TDS.
TDS should be deducted on payment or credit whichever is earlier.
This TDS amount should be deposited before 7th of next month of month in which TDS is deducted.
TDS return will be filled 26Q on quarterly basis. from Apr-Jun till 15July.
Jul-Sept till 15 Oct. Oct-Dec till 15Jan. Jan-Mar till 15 June

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