tds above limit on transporter
This query is : Resolved
16 July 2010
dear experts
one transporter are bringing goods continuesly from apr-10 and his bilty amount for 3 months gone above 75000 Rs limit is there any need to deduct tds on rthe same, while he has PAN also.
one transporter are bringing goods continuesly from apr-10 and his bilty amount for 3 months gone above 75000 Rs limit is there any need to deduct tds on rthe same, while he has PAN also.
Sunil Kr. Sanganeria
(Expert)
16 July 2010
As per Section 194 of the Incoem tax Act, If receipient is a transport contractor and he or it furnishes his PAN to the deductor, tax is not deductible w.e.f. 1st October, 2009.
Deductor who makes payment to transporters without deducting TDS will be required to intimate the PAN details to Income Tax Department in prescribed format.
In your case, since the transporter has PAN you are not required to deduct TAX.
Deductor who makes payment to transporters without deducting TDS will be required to intimate the PAN details to Income Tax Department in prescribed format.
In your case, since the transporter has PAN you are not required to deduct TAX.
16 July 2010
Agreed with experts.
Venkat Rao Marella
(Expert)
16 July 2010
Perfect. Agree with Mr. Sunil Sanganeria.
Venkat.
Venkat.
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