TDS on payment to Transporters
This query is : Resolved
Kamlesh Modak
(Querist)
05 October 2009
Dear Sir,
As per amendment effective from 01/10/09 for sec. 194C of I.T. act for tds on payment to contractors / subcontractors including Transporters. As per amendment TDS not applicable on payment made to transporters quoting PAN. My query is that, whether there is any payment limit, or whatever may be the payment to transporters, if PAN is quoted, TDS is not be deducted?
for eg.
payment to Transporter during the year RS. 5.00 lacs. single payment is Rs. 75000/-, PAN is quoted by the transporter.
Now whether i have to deduct TDS on payment made at applicable rate or not? and if yes what will be the amount
As per amendment effective from 01/10/09 for sec. 194C of I.T. act for tds on payment to contractors / subcontractors including Transporters. As per amendment TDS not applicable on payment made to transporters quoting PAN. My query is that, whether there is any payment limit, or whatever may be the payment to transporters, if PAN is quoted, TDS is not be deducted?
for eg.
payment to Transporter during the year RS. 5.00 lacs. single payment is Rs. 75000/-, PAN is quoted by the transporter.
Now whether i have to deduct TDS on payment made at applicable rate or not? and if yes what will be the amount
Shyam Lal Naik
(Expert)
05 October 2009
No limit.
If the goods transport contractor quotes his/her/its PAN, tds not to be deducted, irrespective of amount involved.
If the goods transport contractor quotes his/her/its PAN, tds not to be deducted, irrespective of amount involved.
05 October 2009
Irrespective of amount involved if PAN no. is given TDS need not be deducted for goods transporter.
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