Tds liable for c&f agent

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Querist : Anonymous

Querist : Anonymous (Querist)

26 December 2013 Dear Sir
A Pvt. Ltd.Co.(x) raised a bill as under
1.CLEARING & FORWARDING CHARGES
2.AGENCY CHARGES
3.FREIGHT INWARDS

i have deduct TDS On agency charges only.. It's labile for Clearing & forwarding charges and freight inwards charges please advice me

regards
Prashant T
Accountant

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

29 December 2013 TDS will apply under section.194C 1% for non corporate deductees and 2% for corporate deductees

Querist : Anonymous

Querist : Anonymous (Querist)

29 December 2013 Thanks sir
but its apply for clearing & forwarding charges And Freight inwards (transporation expenses) also ???

Querist : Anonymous

Querist : Anonymous (Querist)

29 December 2013 Thanks sir
but its apply for clearing & forwarding charges And Freight inwards (transporation expenses) also ???

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

29 December 2013 Yes. it is apply. only transporter charging transport and having PAN got exemption for TDS. the query shows the C&F agent charging the other charges along with commission so TDS apply u/s.194C

Querist : Anonymous

Querist : Anonymous (Querist)

02 January 2014 Thanks sir

Still I confused - The XYZ co raised consolidated invoice

CLEARING & FORWARDING CHARGES Rs.XXX
AGENCY CHARGES Rs.XXX
TRANSPORTATION CHRGES Rs.XXX
---------------
TOTAL Rs.XXX

It's liable for all 3 heads or only agency charges ???

pl advice

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

02 January 2014 Since the consolidated invoice, it will be deducted under section.194C

Querist : Anonymous

Querist : Anonymous (Querist)

11 January 2014 Thanks sir
One more question
if Invoice raised on agency charges of Rs.35000+ Service Tax 4326= Total 39326/= Which is amount TDS applicable for ??
35000/= or 39326/=
pl advice the same

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

11 January 2014 TDS will apply on total Invoice value Rs.39326

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