TDS on Travelling agent
This query is : Resolved
Vadiraj.N.Naik
(Querist)
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?
Pls guide.Thank you
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?
Pls guide.Thank you
CA PARAS BAFNA
(Expert)
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.
*
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.
*
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%.
*
In case of others (Firm, Company etc.)
TDS @ 2% .
*
Please refer Section 194C for more details.
the requirement of TDS will arise.
*
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.
*
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%.
*
In case of others (Firm, Company etc.)
TDS @ 2% .
*
Please refer Section 194C for more details.
Message likes :
1 times
Vadiraj.N.Naik
(Querist)
23 June 2011
Yes sir,
Rs.1057 is towards railway ticket, balance is air fare, i think some approx Rs.700 will come more than statutory limit.
Thanks
Rs.1057 is towards railway ticket, balance is air fare, i think some approx Rs.700 will come more than statutory limit.
Thanks
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