Tds - transporter
This query is : Resolved
24 February 2014
what will be consequence in case neither i deduct TDS for the freight paid nor took the PAN of the trasporter??
24 February 2014
You will have to deposit 20% tax if PAN is not taken from the transporter.
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25 February 2014
In case of transporter tds applicable at nil rate provided if u have collected valid pan number of transporterbas per sec.194c(6)...failing to which tds to be deducted at 20% otherwise amount paid to transporters will be disallowed as expence by tax auditor
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And u also mandatorily required to file tds return with pan details of transporters it is mandatory as per ammended income tax rule 31A
.
Kindly refer my below reply and also refer to my article inthis regard which explains need of inclusion of transporter details in tds return...link to my srticle provided in below reply
https://www.caclubindia.com/experts/filing-of-tds-returns-in-case-of-nil-challans--1642089.asp#.UwwsnaNX7a8
.
.
And u also mandatorily required to file tds return with pan details of transporters it is mandatory as per ammended income tax rule 31A
.
Kindly refer my below reply and also refer to my article inthis regard which explains need of inclusion of transporter details in tds return...link to my srticle provided in below reply
https://www.caclubindia.com/experts/filing-of-tds-returns-in-case-of-nil-challans--1642089.asp#.UwwsnaNX7a8
.
Message likes :
1 times
26 February 2014
Thanx for the reply
26 February 2014
In continuation i have 1 more query ....in case of non compliance of both the above conditions,can i shelter my those expenditure under amendment inserted through finance act 2012 in section 40(a)(ia) by fulfilling the required condition.
27 February 2014
if it is proved that all the conditions specified are fulfilled then it is sufficient compliance to get out of the disallowance of the provisions of sec. 40(a)(ia).
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