whether tds deductible on freight charges less than 30000 also if they dont have pan number???
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Tds on freight
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its urgent... thanks
No, TDS will not be deducted if any single sum paid or credited is less than Rs 30,000/-.However, if aggregate amount exceeds by Rs 75,000,than the payer is responsible to deduct TDS.
PAN is mandatory.
if person has no PAN NO. then 20% rate is applicable if single payment is > 30000 n also if the aggregate amount exceeds 75000 then only. ( Aggregate amount 75000 in the year)
completely agree with PSJ90
- Yearly Limit u/s 194C:Also where the aggregate of the amounts paid/credited or likely to be paid/credited to Contactor or Sub-contractor exceeds Rs.75,000 during the financial year, TDS has to be made u/s 194C.
- TDS at higher rate ie., 20% has to be made if the deductee does not provide PAN to the deductor.(read detail u/s 206AA)
if a person does not provide pan no deduct 20% flat.
as simple as that
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