Tds on freight to transporter u/s 194c, reporting in return
This query is : Resolved
28 April 2019
Do we need to report in our quarterly TDS return, the payment of freight to one transporter which is below the taxable threshold (ie., single transaction less than thirty thousand and cumulative payment during the FY below 1.00 lakhs.)
If yes, then how to show?
Does it matter if he gives his PAN and/or decalaration (for less than 10 trucks), or if he doesn't?
Kindly enlighten.
Thanks and regards.
If yes, then how to show?
Does it matter if he gives his PAN and/or decalaration (for less than 10 trucks), or if he doesn't?
Kindly enlighten.
Thanks and regards.
28 April 2019
No, not required to report.
If declaration is given no need to deduct TDS for exceeding the limits.
If declaration is given no need to deduct TDS for exceeding the limits.
Message likes :
1 times
28 April 2019
Thanks Sir for the help.
So that means we have to not report transactions till these are below the threshold. But as soon as the threshold is crossed, we have to either obtain declaration, or deduct tax on entire cumulative amount.
Now if tax is deducted, we need to report all payments made to the concerned transporter in the coming quarterly return even though these might pertain to earlier quarters when these were not reported because cumulative total at that time was below 1 lakh. Am I correct Sir?
But if transporter gives declaration, as you said, till reaching threshold, there was no need to report. However on crossing 1 lakh, how do we report the declaration in return? Do we include all payments from rupee one till 1 lakh also in the coming quarterly return?
Kindly enlighten. Regards.
So that means we have to not report transactions till these are below the threshold. But as soon as the threshold is crossed, we have to either obtain declaration, or deduct tax on entire cumulative amount.
Now if tax is deducted, we need to report all payments made to the concerned transporter in the coming quarterly return even though these might pertain to earlier quarters when these were not reported because cumulative total at that time was below 1 lakh. Am I correct Sir?
But if transporter gives declaration, as you said, till reaching threshold, there was no need to report. However on crossing 1 lakh, how do we report the declaration in return? Do we include all payments from rupee one till 1 lakh also in the coming quarterly return?
Kindly enlighten. Regards.
28 April 2019
1 yes you are right.
2 Crossing the limit Nil TDS To incorporate Nil rate transporter entries in etds return by inserting a tag "T" in remarks in 26q.
2 Crossing the limit Nil TDS To incorporate Nil rate transporter entries in etds return by inserting a tag "T" in remarks in 26q.
Message likes :
1 times
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
- ITR -1 Filing
- TWO FIRM NAME IN ONE GST NUMBER
- Section 54 f disallowed will be taxed at what rate
- Transportation of Petrol, Diesel by GTA and Other than GTA
- SEA GOING ALLOWANCE
- Transfer of Rectification Rights to the Jurisdictional Assessing Officer
- Transfer of rectification rights to ao
- Which ITR application
- Treatment of Profit on sale of fixed assets
- IGST Refund pending since June 2022.
- SALES MADE THROUGH E COMMERCE OPERATOR 9(5)
- Igst utilisation query
- Section 12A(1)AC
- Interest will be paid
- CHANGE IN PARTICULARS OF DIRECTOR
- Procedure and Documents Required for Release of FD from DVAT
- Non- payment of GST on supply of services- reg
- Accumulated surplus exceeding 15%
- Different GST Number MEESHO
- Fees amount transfer procedure for two doctors
Trending Online Classes
CAclubindia
