Tds on transporter payment.
This query is : Resolved
10 August 2015
Pls clear my doubt.
We have regular transport charges for diff. diff. courier. but amount is less than Rs. 5000/- we paid this amount through cash. on this transaction is it necessary to deduct tax @ 2% or not???? What is the limit for making cash payment to transporter.
We have regular transport charges for diff. diff. courier. but amount is less than Rs. 5000/- we paid this amount through cash. on this transaction is it necessary to deduct tax @ 2% or not???? What is the limit for making cash payment to transporter.
CA R SEETHARAMAN
(Expert)
10 August 2015
Cash payment limit for transporter is 35,000. Tds applicable if single payment exceeds 30,000 and yearly payments exceeds 75,000 to single transporter.
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10 August 2015
Thanks sir,
It means if today we pay Rs. 5000/- to "XYZ " there is no need to deduct TDS.
It means if today we pay Rs. 5000/- to "XYZ " there is no need to deduct TDS.
CA R SEETHARAMAN
(Expert)
10 August 2015
Yes you are right...........
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