PANKAJ SHARMA (Accounts Executive) (200 Points)
29 January 2013TDS on transporters are required to be dedcted u/s 194C, if they do not submit their PAN number.
My Question is "WHETHER the limit u/s 194C of Rs.30000/75000 is also applicable on Transporters u/s 194C"
OR " it is solely depend upon PAN Number to deduct TDS or not irrespective of amount involved"
Harish
(CA Student)
(568 Points)
Replied 29 January 2013
Hi Pankaj, When PAN is not submitted then no need to check threshold limit. Directly you can deduct TDS @ 20% or Actual Rate - whichever is Higher.
PANKAJ SHARMA
(Accounts Executive)
(200 Points)
Replied 29 January 2013
Sir,
Pls clear my doubt, If we are making payment of Rs.25000 to transporter vide single bill, whether it is required to deduct TDS (if PAN is not available)
Pintulal Choudhary
(CA)
(30 Points)
Replied 30 January 2013
The Question of deducting tds arises only when the conditions specified under sec 194C are satisfied. The condition are single payment > 30000/- or aggregate of > 75000/-
Since the payment does not exceed 30000/- the question of deducting tds does not arises and there is no need for collecting the PAN card details.
Hence in the given case no need to deduct tds on the above payment of 25000/-
Kadiwal and Associate
(Proprietor)
(41 Points)
Replied 30 January 2013
Sir, the payment to transporter is more than 80000 & he is providing me PAN.
Should i deduct TDS for the same u/s 194c?
Harish
(CA Student)
(568 Points)
Replied 30 January 2013
Hi Pintulal sir,
The question of applying the respective section provisions arises only when PAN is provided by Deductee, when PAN Number is not provided directly at 20% or actual rate - whichever is higher should be taken. Above rule is made mandatroy from 1/4/2010 onwards.
Corret me If I am wrong.
Santosh Shetty
(IPCC, Asst Manager)
(200 Points)
Replied 30 January 2013
Mr. Wahid - not to deduct TDS in your case since you have got the PAN of the Transporter.
Santosh Shetty
(IPCC, Asst Manager)
(200 Points)
Replied 30 January 2013
Mr. Wahid - not to deduct TDS in your case since you have got the PAN of the Transporter.
jasvinder singh
(Gorakhpur)
(29 Points)
Replied 30 January 2013
TDS on transporter is not required to be deducted if the person has provided his PAN details before crediting any payment. Hence limit of sec 194C is not applicable in this case. However in case if the person has not provided his PAN details then no question of any limits. TDS to br deducted @ 20%
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