TDS

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Jayesh (Querist)
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24 February 2010 During the F.Y. 2008-09 total Transportation Charges under various purchase bill of material was accounted where transpiration was part of entire bill and accumulated amount was Rs. 1,21,000/- and TDS was not deducted on it as the same was considered as purchase of material.

Kindly let me know that.

1)Is TDS gets attracted on this?
2)If yes, now at what rate TDS to be deducted and paid to govt. as rate of TDS in both the F.Y. are different?
3)At what rate Interest & penalty needs to be calculated and under which section?

Regards,

CA Prashant Gupta

CA Prashant Gupta (Expert)
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24 February 2010 if transport charges are paid to vendor from which you purchased goods then no TDS. As you reimburse that amount not paid to contractor.
The vendor will pay to transporter and he is liable to deduct TDS.

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