Tds to courier service

This query is : Resolved

priya (Querist)
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20 September 2014 our company is paying more than 50000/- to courier company & speed post for shipment of books to different customer. Is is tds applicable ? if yes please let me know the rate .

If Ans - Yes the my following query . Please help -

If we have not deducted tds & payment is more than 2 lac p.a then what we can do now ?

Rupesh Jain

Rupesh Jain (Expert)
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20 September 2014 courier service cover under 194C if you pay 75000/- in year or rs. 30000/- in single bill then you have tot deduct the tds @ 1% for individual/HUf and for other @ 2% .

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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20 September 2014 Additionally, if you have not deducted TDS then immediately pay it from you own pocket along with interest @1% p.m. on late deduction and then adjust against the future payment of vendors.

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