TDS Query

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This query is : Resolved

Quick Summary

If you've paid over £50,000 for loading and unloading charges via bank transfer, you likely need to deduct TDS under Section 194C. The deduction rate is 1% for individuals or HUFs, and 2% for others, provided certain conditions are met. However, if you are an individual or HUF and your accounts weren't audited in the previous year, TDS deduction may not be required.

farook

farook (Querist)

20 February 2020 Dear Expert,

Loading and Unloading charges we paid above 50000 through bank whether we have to deduct TDS or not ?

And please if tds for Loading and unloading charges let me know the percentage

Kindly help us to resolve the issue

Amol S Joglekar

Amol S Joglekar (Expert)

20 February 2020 section 194C is applicable. You need to deduct 1% or 2% as the case may be subject to the conditions set out in the said section.

Spurto Consultancy Services

Spurto Consultancy Services (Expert)

20 February 2020 Yes, TDS have to be deducted u/s 194C. Rate of Tax
1% for Individual or HUF
2% for others
However if the deductor is an individual & HUF and in the previous year Accounts were not audited then no need to deduct the tds.

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