TDS on transport contract
This query is : Resolved
B K Panchal
(Querist)
02 June 2010
Sir
we are a public trust. we have entered in to a contract of Rs.55000/- per month with a travel agency for bringing our students daily from hostel to institute & back.
Do we need to deduct TDS ?
--from Bharat
we are a public trust. we have entered in to a contract of Rs.55000/- per month with a travel agency for bringing our students daily from hostel to institute & back.
Do we need to deduct TDS ?
--from Bharat
Sunil Kr. Sanganeria
(Expert)
02 June 2010
Yes, Tax has to be deducted u/s 194C of the Income TAx Act.
02 June 2010
AGREE THE TRANSACTION ATTRACTS TDS.
BUT IF TRANSPORTER PROVIDES PAN TDS RATE WILL BE NIL.
BUT IF TRANSPORTER PROVIDES PAN TDS RATE WILL BE NIL.
Shyam Lal Naik
(Expert)
02 June 2010
Dear Sanjayji,
Beg to differ.
The non deduction of TDS u/s 194C on furnishing of PAN applies only in case of contract for leasing, hiring or plying of goods carriage. Since in the instant case, the transportation facility is for students and not for goods, TDS has to be deducted at normal rate.
Beg to differ.
The non deduction of TDS u/s 194C on furnishing of PAN applies only in case of contract for leasing, hiring or plying of goods carriage. Since in the instant case, the transportation facility is for students and not for goods, TDS has to be deducted at normal rate.
02 June 2010
Thanks Sir for Correction.
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