TDS

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Khushbu (Querist)
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28 May 2010 On what amount TDS is required to be deducted in case of contract with C&F Agent.
At what rate TDS to be deducted - Does it make any difference if in agreement expenses and remuneration are consolidated in a single point like-
Remuneration (fixed) 20000p.m.
Staff Cost (fixed) 9000 p.m.
Expenses like internet, telephone, electricity (fixed) 6000p.m.
Rent (fixed) 15000 p.m.

will it make difference if all form part of different point.

Kindly provide detail paragraph for this alongwith notification if any.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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28 May 2010 Payments to Clearing and Forwarding agents for carriage of goods are subject to TDS. The Clearing and Forwarding agents themselves are also liable to deduct tax on payments to a carrier of goods. [Circular No.715 dt.8-8-1995]

RATE OF TDS AS APPLICABLE U/S 194C.
INDVIDUAL & OTHERS @1%
OTHERS 2%
TDS TO BE DEDUCTED ON CONSOLIDATED BILL.

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