Dear Sir,
i need a circular for non- deduction of TDS in case of ocean freight.
i have tried to search circular online but could not find so properly.
What if freight is paid to CHA? and what if paid directly to Shipping company?
kindly guide as to how to get proper circular for both the scenarios.
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Tds on ocean freight payment
Replies (1)
Summary
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To Residents: TDS applies under Section 194C (1% or 2%) if thresholds are crossed, unless a valid declaration for exemption under 194C(6) is provided.
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To Non-Residents: TDS is generally not applicable based on the special provisions of Section 172 and CBDT Circular No. 723.
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To CHAs: TDS typically applies to their service/handling charges; clarify if freight payments are being reimbursed or charged as a markup.
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