Tds on contractor
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 June 2015
In reference to amendment made from 01st June 2015 TDS will be deducted on transport contractor. I want to know if transporter bill date is prior to june but payment made in june or thereafter whether we have to deduct TDS from Payment or bill raised on or after 01june TDS will be deducted.
06 June 2015
No TDS Required to be deducted,as per 194C we have to deduct at time of payment or credit which ever is earlier, since at time of credit there was not TDS on Transporter we are not required to deduct the same.
06 June 2015
TDS provision is attracted at the time of payment or credit whichever is earlier so if any of the two i.e., Payment or Credit is before 01.06.2015 then old provision will be applicable.
So if credit entry already done before 01.06.2015 then there is no need to deduct TDS if payment is mader on or after 01.06.2015.
So if credit entry already done before 01.06.2015 then there is no need to deduct TDS if payment is mader on or after 01.06.2015.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- Unregistered suppliers utility
- Non-Compliance documents have not been submitted by the contractors debited
- EXPORT COMMERCIAL INVOICE HSN CODE
- FORM 141 SDV query
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- GST not cancelled by tenant
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- Filling ITR - U
- Form 140 tds
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
