Tds on payment paid to transporter
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 June 2015
Dear Sir,
If Mr. X hires trucks form Mr. Y and supplies to a private company and company pays hire charges to Mr. X. Whether tds is required to be deducted on amount paid to Mr. X if he is not having his own truck?
If Mr. X hires trucks form Mr. Y and supplies to a private company and company pays hire charges to Mr. X. Whether tds is required to be deducted on amount paid to Mr. X if he is not having his own truck?
13 June 2015
Only the nature of payment is important in TDS.
Even if he is not the owner of the truck, the payment you are making to him is in the nature 'payment to contractor', you have to do TDS on it u/s 194C.
Even if he is not the owner of the truck, the payment you are making to him is in the nature 'payment to contractor', you have to do TDS on it u/s 194C.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
15 June 2015
Sir please provide any supporting for the above answer
16 June 2015
Please read section 194C of the Income Tax Act, 1961. It specifies, 'in the nature of'. And not the criteria of ownership.
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