Tds u/s 94c
This query is : Resolved
Rakesh KUmar
(Querist)
15 June 2018
Sir
I have filled my income tax return for the p.y. 2017-2018 u/s 44AD. Now in the current year I have made a payment of Rs. 75000.00 to a transporter. Please tell whether I am liable to deduct tax at source? and I have not obtain TAN from the income tax department yet.
I have filled my income tax return for the p.y. 2017-2018 u/s 44AD. Now in the current year I have made a payment of Rs. 75000.00 to a transporter. Please tell whether I am liable to deduct tax at source? and I have not obtain TAN from the income tax department yet.
Mahesh Kumar
(Expert)
15 June 2018
Just give your number ill transfer to my CA, he will guide u or else send query at https://ca4you.in/
15 June 2018
No need to deduct TDS if You are not under Tax Audit provisions...
You just pay the amount banking mode.
KAVIRAJA ADDANGADI
(Expert)
16 June 2018
No, need to deduct TDS, Section 194C
Sub section (6)
No deduction shall be made from any sum credited or paid or likely to be credited or paid during the previous year to the account of a contractor during the course of plying, hiring and leasing goods carriages, where such contractor owns ten or less goods carriage at any time during the previous year and furnishes a declaration to that effect along with his Permanent Account Number, to the person paying or crediting such sum.”
No dis allowance for not to deduct TDS not applicable if you declare income under 44AD.
Sub section (6)
No deduction shall be made from any sum credited or paid or likely to be credited or paid during the previous year to the account of a contractor during the course of plying, hiring and leasing goods carriages, where such contractor owns ten or less goods carriage at any time during the previous year and furnishes a declaration to that effect along with his Permanent Account Number, to the person paying or crediting such sum.”
No dis allowance for not to deduct TDS not applicable if you declare income under 44AD.
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