Tds

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harshil shah (Querist)
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12 August 2013 Whether tds is to be dueducted on paymeny made to transporter in F.Y.2013-14 v?!! If yes the n at what rate ?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 August 2013 Yes refer sec 194C.
Rates:
for Ind and HUF - 1%
for others- 2%
if no pan provided-20%
The amount should cross limit under sec 194C then only TDS is applcable.

Ganeshbabu K

Ganeshbabu K (Expert)
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16 August 2013 TDS not applicable if pan provided

As per 194C(6)

No deduction shall be made from any sum credited or paid or likely to be credited or paid during the previous year to the account of a contractor during the course of business of plying, hiring or leasing goods carriages, on furnishing of his Permanent Account Number, to the person paying or crediting such sum.

However it is mandatory to report the same in TDS return vide amended rule 31AA w.e.f. 01.04.2011

please refer below

https://www.caclubindia.com/articles/inclusion-of-transporters-details-in-tds-returns-are-mandatory-17543.asp

Thanks & regards
Ganesh babu k

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