Tds deduction
This query is : Resolved
Rakesh Sharma
(Querist)
16 June 2015
We are selling our product (Footwear) through Flipkart.
During the m/o May-2015 we have sold footwear for Rs. 14,50,660/- & Flipkart paid 10,63,037/- after deducted following charges :-
1) Commission - 150960/-
2) Shipping Charges - 187210/-
3) Misc. charges - 1850/-
Add : Service Tax - 47603/-
Total 387623/-
We are manufacturing proprietor firm & our accounts will be audited as our turnover hopefully crossed the threshold limit of Tax Audit.
My query is that on which figures we have to deduct TDS & what will the rate of TDS.
Please advise.
During the m/o May-2015 we have sold footwear for Rs. 14,50,660/- & Flipkart paid 10,63,037/- after deducted following charges :-
1) Commission - 150960/-
2) Shipping Charges - 187210/-
3) Misc. charges - 1850/-
Add : Service Tax - 47603/-
Total 387623/-
We are manufacturing proprietor firm & our accounts will be audited as our turnover hopefully crossed the threshold limit of Tax Audit.
My query is that on which figures we have to deduct TDS & what will the rate of TDS.
Please advise.
Rupesh Jain
(Expert)
16 June 2015
in last year if your books of account was audited u/s 44ab then you have to deduct the TDS in current year. otherwise not required.
you have to take bill of exp.
and tds will deduct on commission u/s 194H
you have to take bill of exp.
and tds will deduct on commission u/s 194H
Rakesh Sharma
(Querist)
16 June 2015
Should we deduct TDS on Shipping charges (Delivery charges) as well?
please advise sir.
please advise sir.
Rupesh Jain
(Expert)
16 June 2015
if he submit the seperte bill as reimbursement then no tds required.
Rakesh Sharma
(Querist)
16 June 2015
I think TDS should be deducted @2%. Because shipping charges is their income. Flipkart have delivery boys on salary basis.
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