TDS

This query is : Resolved

SACHIN (Querist)
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14 July 2009 For any Transporters, if they provide the PAN number, the TDS on contract payments is NIl.
Pls to clarify what is limit and also without deducting TDS should be reported by deductor with PAN details to the i.t. in the prescribed format (What is format for this situation ?)

NITIN

NITIN (Expert)
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14 July 2009 TDS on transporteres is deducted as per provisions of Sec 194C and limit is 20000 subject to changes made in resent budget @ 2%+sc+ec

CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
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14 July 2009 * The nil rate will be applicable if the transporter quotes his PAN. If PAN is not quoted the rate will be 1% for an individual/
HUF transporter and 2% for other transporters upto 31.3.2010.