We have received a transporter bill for the month of March'21 ( dated 25.3.2021 ) in April (5.4.2021), what rate of TDS will be deduct 1.5% or 2% ?
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Quick Summary
This discussion clarifies the applicable TDS rate for a transporter's March bill received in April. Generally, TDS is deducted based on the date of booking or payment, whichever is earlier. For expenses booked in March, 1.5% TDS would apply. However, if the bill is received and booked in April, the rate would be 2%. It's also noted that reduced TDS rates were in effect from May 2020 to March 2021.
Since you have received the bill in April , and in case if you booking it in April then rate will 2 percent as TDS to be deducted on date of entry or payment which ever is earlier