we are a manufecturing company and having dealing with various suppliers.
There are billing of two types
1. in which they are charging the freight with value of material in the same invoice but shown seperately.
2. in which they are charging only freight and there is no value of goods.
my question is that is there applicability of TDS in the 2nd situation.
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.
If trasporter provides PAN, than no need to deduct TDS.
Boutique Investment Bank & Transaction Advisory Firm
Gurgaon
CA
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