Tds on transport company/logistic company

Hi Shiwani,

Clearing & forwarding agent is not transport company. I think you are talking about the Clearing house agent. 

The TDS u/s 194C will be dedcuted on the payment or at credit (whichever is earlier) to Clearing & forwarding agent.

Meaning thereby your comapny is liable to deduct the TDS @ 2% if CHA is other than Individual & HUF. otherwise at 1%.

In other words, if you books the expenses at first before payment, then you must pass the entry for TDS at the time of booking the expense.

I hope your query is now clear.

THANK MR. ARIF.

But i m questioning whether TDS has been deducted or not, when on payment made to clearing & forwarding agent and status of assess, mean to say clearing & forwarding agent is transport company.

TDS @ 2% must be deducted. all otherthing cleared above. 

it is not covered under transport co