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Tds on transporter

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This query is : Resolved

dipika (Querist)

30 July 2015 as per new rule of tds on transporter, wef 1.6.2015 tds will be deducted if single transaction exceed rs 30000/- or aggregate rs 75000/-. For counting limit of 75000 , payment made to transporter in the month of april or may will be counted or not? if yes then tds will be on which amount? for example:- mr A pays rs 45000/- on 15-4-15 and rs 40000/- on 20-6-2015 to transporter. Then in this case tds have to deduct on rs 40000/- or rs 85000/- ??? as overall limit of rs 75000/- exceeded. Please reply...

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

30 July 2015 Both the payments exceeds 30,000 single transaction limit TDS applicable on each payment.

CA Chirag Haraniya

CA Chirag Haraniya (Expert)

31 July 2015 1. Period prior to applicability of provisions should not be included.
2. TDS will be applicable if the transporter owns more than 10 vehicles, hence take declaration and if transporter doesn't provide declaration then only deduct tax.

Regards,
Chirag M. Haraniya

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