TDS Transporter

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 July 2011 Payment made to Transporter eligible for NIL TDS deduction is when required ??
Payment made even of Single Rupee or crossing limit Rs 30,000

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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22 July 2011 Whatever the bill amount if Transporter provides PAN no TDS deduction is required.
In your return you are required to give details of only those payments made to transporters, whose threshold limit is crossed. Hope its clear, in case of any further doubt please revert back.

Querist : Anonymous

Querist : Anonymous (Querist)

22 July 2011 U mean to say Transporter to whom Rs 30,000 or Rs 75,000 in whole year crossed need to be reported in Tds Return

Querist : Anonymous

Querist : Anonymous (Querist)

22 July 2011 What in case Assesse in not required to have audit this year but done in AY 2010-11

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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22 July 2011 Yes. As these are the transaction on which TDS would have been required to be deducted has this exemption was not in place. Transactions below threshold limit are not required to be mentioned under any section.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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22 July 2011 "What in case Assesse in not required to have audit this year but done in AY 2010-11"

This does not have any effect on reporting.

Querist : Anonymous

Querist : Anonymous (Querist)

22 July 2011 But the Audit case Assesse are required to deduct TDS??

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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22 July 2011 I think you are asking about filing of return?
Anyways, Say audit applicable in respect of Fy 2008-09 then TDS deduction will be required from Fy 2009-10.

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