TDS On freight Bill
This query is : Resolved
PARDEEP SINGH
(Querist)
01 July 2009
We are working with transport company and they have given us Five bills by June 2009 amounting Rs, 45000 /- .each bill is below 20000 /- but now at the end of june whwn we have recevied sixth bill the total exceed 50000 /-. Now TDS is applicale on it.
So i want ti ask that late interest will also be applicalbe on it or not becuase one bill was of April, May and three are of June.
Please reply me soon
Thanks in advance.
So i want ti ask that late interest will also be applicalbe on it or not becuase one bill was of April, May and three are of June.
Please reply me soon
Thanks in advance.
CA.Tarun Maheshwari
(Expert)
01 July 2009
Yes. Interest shall be applicable accordingly.
CA Nitin Wadhwani
(Expert)
01 July 2009
The liability of deduction arises when the bills crossed the threshold limit of 50,000/-.
Since the sixth bill in june makes you liable for deduction, tax must be deducted and paid by 7th july, otherwise interest will be applicable otherwise not.
Since the sixth bill in june makes you liable for deduction, tax must be deducted and paid by 7th july, otherwise interest will be applicable otherwise not.
CMA Ankur Pandey
(Expert)
01 July 2009
if you paid tds by 7th july, no interest,otherwise it will be applicable
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Capital Gail Exemption Certificate
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
