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Tds on vehcile hire charges

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 March 2014 If pan card not provided what rate applicable for TDS on vehcile hire charges.
And what is limit for single payment.Which section is applicable
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Ashish

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Ashish (Expert)
18 March 2014 Tds @20% is to be deducted if pan is not made available
Single cash payment to transporters in a day is rs. 35000 according to sec 43B and rule 6 DD
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
18 March 2014 1. Section 206AA is applicable if PAN is NOT provided. In such a case TDS is required to be deducted @ 20%

2. In case of payment to transporter, Section 194C governs the TDS provisions. TDS is required to be deducted if single payment exceeds Rs. 35,000/-

3. However if PAN is provided by the transporter, then TDS is NOT required to be deducted.
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