tds on contactor
This query is : Resolved
26 June 2010
Dear Expert
1-If we have deducted tds on freight from transporter in financial year 2009-10 before oct-2009 then can we paid transporetr more than payment in excess of Rs. 20000.
2-(for financial year 2010-11) if a transporter has PAN card on bilty eventhen can we make payment more than Rs 20000 in cash in a day.
please suggest at earliest
thaks
1-If we have deducted tds on freight from transporter in financial year 2009-10 before oct-2009 then can we paid transporetr more than payment in excess of Rs. 20000.
2-(for financial year 2010-11) if a transporter has PAN card on bilty eventhen can we make payment more than Rs 20000 in cash in a day.
please suggest at earliest
thaks
CMA Ramesh Krishnan
(Expert)
26 June 2010
There is no link between the payment more than Rs.20000 and TDS deduction
TDS need to deduct if the transporter not provided the PAN
if the payment made to transporter more than Rs.35000/- it the particular expenses will be disallowed as per sec.40(A)3
There is no link between the payment more than Rs.20000 and TDS deduction
TDS need to deduct if the transporter not provided the PAN
if the payment made to transporter more than Rs.35000/- it the particular expenses will be disallowed as per sec.40(A)3
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