Tds on transportation business
This query is : Resolved
18 July 2014
Dear,
Can any body tell me about tds on transportation business.....our compay used to receive goods through a transporter, can we deduct tds on bills raised by that transporter....
Regards
Rupinder
Can any body tell me about tds on transportation business.....our compay used to receive goods through a transporter, can we deduct tds on bills raised by that transporter....
Regards
Rupinder
18 July 2014
If transporter provides PAN then TDS not required to be deducted but details of such payment needs to be disclosed in TDS return.
18 July 2014
Yes if the amount exceeds the limit mentioned u/s 194C, then u must have to deduct TDS.
For 194C, details plz visit the following link:-
https://www.caclubindia.com/share_files/section-194c-63297.asp#.U8j_y0DRZUk
For 194C, details plz visit the following link:-
https://www.caclubindia.com/share_files/section-194c-63297.asp#.U8j_y0DRZUk
18 July 2014
As per the amended section 194C, through Finance Act (2) of 2009, No deduction shall be made from any payments made to a contractor during the course of business of plying, hiring or leasing goods carriages, on furnishing of his PAN to the deductor. This new subsection 6 of 194-C makes such transport contractor to compulsorily provide PAN to the Deductor.
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