TDS IN CASE OF TRANSPORTER
This query is : Resolved
Nitin Kumar Mahipal
(Querist)
04 September 2010
Dear Sir/ Madam,
Is the limit of Rs.30000/- or 50000/- is applicable for transporter also for TDS u/s 194c?
Is the limit of Rs.30000/- or 50000/- is applicable for transporter also for TDS u/s 194c?
CMA Ramesh Krishnan
(Expert)
04 September 2010
Presently 194C thersholf limit is
Rs.30000 for single transaction
Rs.75000 for aggregate transactions for the year
for Transporter also applicable same limit
But If the transporter provide PAN - no TDS ,otherwise 20 % TDS
Rs.30000 for single transaction
Rs.75000 for aggregate transactions for the year
for Transporter also applicable same limit
But If the transporter provide PAN - no TDS ,otherwise 20 % TDS
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Nitin Kumar Mahipal
(Querist)
04 September 2010
It means if transporter's transacion is for Rs. 15000/- and he doesn't provide PAN no. then we will not deduct TDS as its value is below threshold limit.
am I right?
am I right?
CMA Ramesh Krishnan
(Expert)
04 September 2010
yes. correct
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