Tds - transporter
This query is : Resolved
vivek somani
(Querist)
24 February 2014
what will be consequence in case neither i deduct TDS for the freight paid nor took the PAN of the trasporter??
AVTAR SINGH
(Expert)
24 February 2014
You will have to deposit 20% tax if PAN is not taken from the transporter.
Message likes :
1 times
Ganeshbabu K
(Expert)
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
.
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
vivek somani
(Querist)
26 February 2014
Thanx for the reply
vivek somani
(Querist)
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.
Ganeshbabu K
(Expert)
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).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Taxation of crypto futures in India Fy 2026- 2027
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
