HI
Tds on Courier comes U/s 194 C in that it is under contract or freight if it is freight than TDS rate is nill & if it comes under contract than what is the TDS rate, please tell me.
Vivek
(Finally passed CA Final...!!!!!)
(1097 Points)
Replied 15 January 2010
If courier agency is company or partnership firm, then TDS @ 2%, otherwise 1% (No surcharge or E.cess to be added)
Jitendra Jhanwar
(Officer)
(129 Points)
Replied 15 January 2010
NIL rate of TDS only for transportation payment if transportor provide his PAN No.
Since it is Courier Payment it is covered u/s 194C and TDS will deducted at the rate as Vivek mention.
Deepak Tapse
(Accounts Manager - Taxation)
(1771 Points)
Replied 16 January 2010
It comes under contract and tds to be deducted 1% or 2%
CA Amit Kumar Agarwal
(Partner)
(32 Points)
Replied 16 January 2010
As per CBDT circular no. 715: 215 ITR (st.) 14 TDS on courier service liable u/s 194C. Hence, rate of TDS will be @ 2% or 1% as the case may be without any Ed. Cess, H. Ed. Cess and Surcharge.
PRAVEEN KUMAR
(MBA (Finance) B.Com.(P))
(3443 Points)
Replied 16 January 2010
tds to be deducted 1% or 2%
Jagdish Bhalia
(Practicing CA)
(453 Points)
Replied 16 January 2010
If the deductee is company than TDS rate will be 2% otherwise it would be 1% (No surcharge or edcation cess will be added).
ejaz naiyer
(C.A. FINAL)
(293 Points)
Replied 16 January 2010
if a company has not deducted TDS on payment to courier. then what should be done? i think Firs the Company have to Calculate TDS and pay the TDS with interest. If there be any other opinion plz suggest me.
CAclubindia
