If freight charges paid is less than 30000 and in agregate also its less than 75000 will tds be deductable??? and if he has pan number then should n't be tds deductable on any amount of freight charges ?? plz reply
what is if pan number not there... should tds deducted on less than 30000 amount also?
Dear Friends,
Can we take the entry on the basic of Lorry receipts Or should be booked on the basis of freight bill.
if freight charges doesnt exceed 35000 per bill and he doesnt have pan no. then tds to be deducted or not... pls rply
Hi friends
TDS will not be deducted if single bill is less than Rs. 30000 and aggregate of Rs. 75000 in a year. if the limit exceeds then PAN require otherwise TDS @ 20% will be deducted.
In law it is clearly mentioned:
No TDS is to be made where such sum is credited to the account of or paid to the contractor in the course of business of plying, hiring or leasing of goods carriages if the PAN is furnished by the contractor.
As per the amended section 194C, through Finance Act (2) of 2009, No deduction shall be made from any payments made to a contractor during the course of business of plying, hiring or leasing goods carriages, on furnishing of his PAN to the deductor.
This new subsection 6 of 194-C makes such transport contractor to compulsorily provide PAN to the Deductor, failing to which TDS will be made by Deductor as per 194C. As per your query, if the transpoter fails to provide PAN, then he is subjected to TDS at even higher rate.
unavailability of pan attracts tds at higher rate @ 20%
If fright has booked before 1st june 2015 and payment will pay after 1st june 2015 than shall we deduct TDS or not
If Invoice has been Booked Before 1st June pertaining to service received before 1st June, then No TDS is Applicable.
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