23 June 2011
Question is A domestic company has made transactions like booking the tickets such as air, train and bus with the travelling agent during the year 2010-11.Value of such total transactions 76755/-Whether TDS is applicable ? If yes pls specify the rate and under which section it is applicable?
23 June 2011
In the above case, if a single payment to the agent at any time during the year does not exceed30000/- I do not think that the requirement of TDS will arise.
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Logically in the total amount paid of 76755/- if amount paid in respect of railway tickets exceed 1655/ only, which is quite possible, then the total amount paid to him reduces to below 75000/- and as such no TDS is required.
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Please note that from the definition of "Work" U/s 194C -carriage of passenger by railways has been excluded.
* In other cases - If the booking agent Concern is an Individual or HUF TDS will be deducted @1%.
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