TDS RELATED
This query is : Resolved
25 October 2009
AS per new TDS circular What will be TDS Rate For Transporter if he quoted his PAN NO. and his income is exceeding than Rs 50000/- P.A. also getting more than Rs 20000/- in a single Cheque in a transaction and from when such changes will be effective.
CA. Vinod Pandey
(Expert)
25 October 2009
If they quote PAN no. then there is nil rate otherwise 1% for individual/HUF transporter and 2% in all other case upto 31.3.2010.
CA Suresh Choudhary
(Expert)
25 October 2009
agree
26 October 2009
IF THE RECIPIENT IS A CONTRACTOR ENGAGED IN TRANSPORT BUSINESS AND IF HE FURNISH PAN, TDS RATE WILL BE "NIL".
BUT IF PAN IS NOT FURNISH , THE RATE WILL BE 1% FOR AN INDIVIDUAL/HUF TRANSPORTER AND 2% FOR OTHER TRANSPORTERS DURING OCTOBER 1, 2009 TO MARCH 31, 2010 AND 20% AFTER MARCH 31,2010.
BUT IF PAN IS NOT FURNISH , THE RATE WILL BE 1% FOR AN INDIVIDUAL/HUF TRANSPORTER AND 2% FOR OTHER TRANSPORTERS DURING OCTOBER 1, 2009 TO MARCH 31, 2010 AND 20% AFTER MARCH 31,2010.
Message likes :
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CA SANJAY MUKHERJEE
(Expert)
26 October 2009
Agrre with Dayal and this is only for transporters of goods carriage.
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