TDS section194C Transport paid amount above 30,000/- applicable

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This discussion clarifies the applicability of TDS under Section 194C for transport payments exceeding £30,000. Generally, TDS at 2% is applicable on single payments of £50,000 or more. However, TDS is not required if the transporter provides a self-declaration stating they own no more than 10 goods carriages and supplies their PAN. An Income Tax Assessing Officer's signature is not necessary on this declaration; the transporter's self-declaration suffices, but it must be disclosed in the TDS return.

jayaprakash

jayaprakash (Querist)

11 November 2021 Hi Sir,
1. We are paid transport charges paid single payment Rs.50,000/- this applicable tds 194C @2% ?
2. Transporter provide 194C amended 2015 self declaration. Hence if the transporter owning not more than 10 goods carriages at any time during the year, provide his PAN alongwith the declaration then as a payer, you don’t have to deduct his TDS u/s 194C.
3. We need deduct or not to deduct this amount ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

11 November 2021 No need for TDS if transporter provide such declaration and PAN number.
Otherwise deduct TDS.

jayaprakash

jayaprakash (Querist)

11 November 2021 Thank you sir.
In-cause transporter not submit self declaration with pan. we are deducted tds correct sir.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

11 November 2021 Yes, you are right.......

jayaprakash

jayaprakash (Querist)

11 November 2021 I have one more doubts sir, 194C amended declaration letter required Income tax Assessing officer signature ? AO sign is compulsory or transporter self declaration Enough ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

11 November 2021 Transporter self declaration is enough. You have to disclose this in TDS return.

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