Hello,
My client is a Pvt Ltd Company engaged manufacurg of goods. It pays transport charges to different transporters(truck owners, transport brokers, goods transport agency-Individuals, partnership firms and Pvt Ltd companies).All the transport operators mentioned above are having PAN Numbers. Is my client liable to deduct tax at source from all the payees after 1st June 2015.
Thanks
NO, there is a exemption for payment to small transporter ( transporter who owns 10 or less goods carriages at any time during the previous year ) PROVIDED he has furnished declaration and PAN to this effect .
DECLARATION file is attached
SORRY.
DECLARATION file is attached here.
WHAT THE HELL .
TRYING THIRD TIME TO ATTACH THE FILE.
Hello,
What about transport broker ???
Thanks in advance ..
IN BROKER CASE - REMEMBER FOR TDS PURPOSE YOU ARE ONLY CONCERNED WITH BROKER , YOU ARE NOT CONCERNED WITH HOW TRANPORTER IS RECEIVING PAYMENT FROM BROKER AND WHETHER HE HAS FURNISHED DECLARATION TO BROKER OR NOT .
WELL , if brokerage is show seprately in invoice by broker you are only liable to deduct TDS @ 10% on brorerage / commission u/s 194H .194C WILL not apply .
HOWEVER , if brokerage is not show seprately in invoice by broker , deduct TDS u/s 194C @ 1% / 2% on whole amount .
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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