TD Query
This query is : Resolved
20 April 2010
PLEASE GIVE YOUR OPINION:-
X is a transporter.
Z purchases raw materail from Y. X transports the material during the year to the Z place on bahalf of Y.
At the year end Y charges Rs. 5 lacs from Z for this transport service.
What will be the TDS implications??
Thanks in advance
Regards
Deepak Kakkar
X is a transporter.
Z purchases raw materail from Y. X transports the material during the year to the Z place on bahalf of Y.
At the year end Y charges Rs. 5 lacs from Z for this transport service.
What will be the TDS implications??
Thanks in advance
Regards
Deepak Kakkar
20 April 2010
IF Y SUBMITS A SEPARATE BILL FOR REIMBURSEMENT OF TRANSPORTATION CHARGES TO Z AND PAYS EXACTLY THE SAME AMOUNT TO X THEN THERE IS NO IMPLICATION OF TDS ASSUMING TRANSPORTER HAS A PAN.
IF Y DOES NOT SUBMIT SEPARATE BILL FOR REIMBURSEMENT OF TRANSPORTATION CHARGES OR DOES NOT PAY EXACTLY THE SAME AMOUNT RECOVERED FROM Z THEN Z WILL DEDUCT TDS @1% BUT Y WILL NOT DEDUCT ANY TDS FROM X ASSUMING X HAS PAN.
VIEW OF OTHER EXPERTS IS SOLICITED.
IF Y DOES NOT SUBMIT SEPARATE BILL FOR REIMBURSEMENT OF TRANSPORTATION CHARGES OR DOES NOT PAY EXACTLY THE SAME AMOUNT RECOVERED FROM Z THEN Z WILL DEDUCT TDS @1% BUT Y WILL NOT DEDUCT ANY TDS FROM X ASSUMING X HAS PAN.
VIEW OF OTHER EXPERTS IS SOLICITED.
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