19 June 2010
please explain what is the tax liability on company if truck freight paid by goods supplier on behalf of company, afterwards company paid credit to supplier for same ( if there is no pan)
19 June 2010
If the payment is on behalf of the company(purchaser), then, TDS is required to be deducted, in the instant case, @ 20%.
However, if the freight is recovered by the supplier, freight payment happens to be the responsibility of the supplier and the supplier is liable to deduct TDS.
CAclubindia
