TDS ON DETENTION CHARGES

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170 Points Posted on 17 June 2021
I'm a partnership firm, I've paid rs 1 Lacs as detention charges, and I'm liable to audit shall I deduct TDS, is it under 194C?
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On 17 June 2021 at 14:00 Report
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This discussion clarifies whether TDS (Tax Deducted at Source) needs to be deducted on detention charges paid by a partnership firm. The consensus is that TDS under section 194C is likely applicable, especially when these charges are paid to a company for compensation due to goods being held up, such as during the COVID-19 pandemic.

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Chartered Accountant
24588 Points Posted on 17 June 2021
Yes 194C is applicable
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On 17 June 2021 at 14:13
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CMA
13117 Points Posted on 17 June 2021

What kind of detention charges? Whom is it paid?

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On 17 June 2021 at 14:39
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170 Points Posted on 17 June 2021
Due to covid situation goods were lying with the shipping company, hence for compensation detention charges were paid to the company
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On 17 June 2021 at 14:43
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Chartered Accountant
24588 Points Posted on 17 June 2021
194C may be applicable
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On 17 June 2021 at 19:17
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2742 Points Posted on 17 June 2021
TDS 194C is applicable
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On 17 June 2021 at 20:17

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