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Tds return for payment to lorry freight

K. SENTHIL PRASAD (Self Employment) (55 Points)

09 July 2015

Sir/Madam,

I am working as an accountant in Leading Printing Industry @ sivakasi. First time,
we are filing tds return for Payment to Lorry Freight.

My query is we have to show in the nil return all payments made to Transporter in the financial
year or payment to a single transporter aggregate more than Rs.75000/- in the financial year?

Because we are doing business with mutliple transporter (inculding
retail transporter, one time transporter).

Please clarify my query asap. Advance Thanks...

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4 Replies

Prashant Gupta (Finance Professional ) (163 Points)
Replied 09 July 2015

Hi Senthil,

Let me clarify this, you can deduct TDS to payments made to transporters at the rate of 2% if such payments exceeds Rs. 30,000 or aggregate of such payments exceeds Rs. 75000 in a financial year.

If the payment made to transporter does not exceed Rs. 30,000 or the aggregate of such payments made does not exceed Rs. 75,000 in a single financial year then the rate of TDS will be 1%.

Hope this helps,

Prashant

CMA Poornima Madhava (CMA) (13097 Points)
Replied 09 July 2015

TDS return is filed for a quarter. So u need to consider payments/credits for the relevant quarter.

AJEET MAURYA (article) (32 Points)
Replied 10 July 2015

Hi senthil, reading ur query where u hv said showing transporter pymt in nil tds return. That mean u hv take PAN No of transpoter and not deduct tds on pymt made to transporter. If these be the case then simply u in tds return quote the transporter PAN no.,his name along with amt paid and in TDS cell quote 0 amt hope this be ur query n same hv been solved goodluck

AJEET MAURYA (article) (32 Points)
Replied 10 July 2015

Now W.E.F 1/6/15 a transporter having more than 10 vehicle or more, any pymt made to him by person must deduct tds u/s 194 c even he is giving his PAN No. Thanx

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