Tax Deductions at Source

284 views
User Avatar

Student
232 Points Posted on 19 September 2020
A comapny received a payment after deduction of tds. Then the company paid the amount to 5 transporter. My question is, Is it necessary to deduct tds again on such payment to transporter?
0 Reply Share Follow
On 19 September 2020 at 11:11 Report
Replies (4)
Quick Summary
This discussion clarifies whether a company must deduct Tax Deducted at Source (TDS) again when paying transporters after receiving a payment where TDS was already applied. The consensus is that payments to transporters are indeed subject to TDS. It's also noted that temporary rate reductions were in effect from May 2020 to March 2021.

User Avatar

Chartered Accountant
4524 Points Posted on 19 September 2020
Yes, payment to a transporter is subject to a TDS @ 1%/2%
Reply
On 19 September 2020 at 16:48
User Avatar

Student
232 Points Posted on 19 September 2020
Thank you
But the amount deducted is 1.5% (May be there are some change in rates)
Reply
On 19 September 2020 at 16:50
User Avatar

Chartered Accountant
4524 Points Posted on 19 September 2020
Yes central government ordered a 25% reduction in rate of tds and tcs from 14th may 2020 to 31st march 2021
Reply
On 19 September 2020 at 16:53
User Avatar

Student
232 Points Posted on 19 September 2020
Yea okay. Thank you !!
Reply
On 19 September 2020 at 16:54

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Form 146 foreign remittance us citizen
  2. GST 16(2) notice
  3. Which GSTR-1 upload error do you hit most often?
  4. Need advice regarding accounting fees
  5. Is it possible to get a refund for an accidental o
  6. ITR-3 Section P&L - speculative income - no bo
  7. Foreign Assets reporting
  8. Build corpus in HUF
  9. Queries with the new form 144
  10. Updating form 10-ee and Schedule FA if there is ch

More recent discussions | Post

Related Topics :

Loading