TDS ON TRANSPORTER
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 May 2010
IF PAN QUOTED NIL TDS ON TRANSPORTER, BUT IF PAN NOT MENTIONED , TDS @20%.IS THERE ANY THRESHOLD / BASIC LIMIT FOR TDS ON TRANSPORTER
CA Archana
(Expert)
12 May 2010
Please go through below limits
Section
Nature of Payment
TDS RATE CHART FOR THE FY 2010-11
Threshold limit upto 30th June,2010
Thresholdlimit w.e.f.1st July,2010
Individual/HUF/ BOI/AOP
Co-operativeSociety /Loca lAuthority
N.A.
* in case of resident only
(2)Contractor/Sub-ContractorinTransport Business
20000(Note 1)
30000
NIL(Note 2)
Note:-
1.Thislimitisforindividualtransaction.However,ifaggregatepaymenttoacontractorduringtheyearexceedRs.50,000(Rs.75,000w.e.f1tstJuly,2010),thentaxwillberequiredtobededucted,evenwhereindividualtransactionislessthanthethreshold of Rs. 20,000 (Rs. 30,000 w.e.f. 1st July, 2010).
2.TheNilratewillbeapplicableifthetransporterquoteshisPAN.IfPANisnotquotedtheratewillbe20%.(Transportermeans persons engaged in plying, hiring and leasing of Goods Carriages)
RatespecifiedunderPartIIofFirstScheduleofFinance Bill, 2010 subject to provisions of DTAA
Section
Nature of Payment
TDS RATE CHART FOR THE FY 2010-11
Threshold limit upto 30th June,2010
Thresholdlimit w.e.f.1st July,2010
Individual/HUF/ BOI/AOP
Co-operativeSociety /Loca lAuthority
N.A.
* in case of resident only
(2)Contractor/Sub-ContractorinTransport Business
20000(Note 1)
30000
NIL(Note 2)
Note:-
1.Thislimitisforindividualtransaction.However,ifaggregatepaymenttoacontractorduringtheyearexceedRs.50,000(Rs.75,000w.e.f1tstJuly,2010),thentaxwillberequiredtobededucted,evenwhereindividualtransactionislessthanthethreshold of Rs. 20,000 (Rs. 30,000 w.e.f. 1st July, 2010).
2.TheNilratewillbeapplicableifthetransporterquoteshisPAN.IfPANisnotquotedtheratewillbe20%.(Transportermeans persons engaged in plying, hiring and leasing of Goods Carriages)
RatespecifiedunderPartIIofFirstScheduleofFinance Bill, 2010 subject to provisions of DTAA
12 May 2010
IF PAN MENTIONED NO LIMIT
IF PAN NOT MENTION ARE REQUIRED TO DEDUCT TDS ONLY AFTER IT CROSSES THRESHOLD LIMIT
THRESHOLD LIMIT:
SINGE PAYMENT RS 20000/- (RS 30000/- WEF 01.07.2010)
ANNUAL RS.50000/- (RS. 75000/- WEF 01.07.2010)
IF PAN NOT MENTION ARE REQUIRED TO DEDUCT TDS ONLY AFTER IT CROSSES THRESHOLD LIMIT
THRESHOLD LIMIT:
SINGE PAYMENT RS 20000/- (RS 30000/- WEF 01.07.2010)
ANNUAL RS.50000/- (RS. 75000/- WEF 01.07.2010)
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