WHAT IS TDS DEDUCTIBLE VALUE IN TRANSPORT BILL

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None
27 Points Posted on 25 January 2021

Respected Sir,
Sir query is that:
                              If a transport bill contains.
FREIGHT                                                             13560
INSURANCE                                                            650
LOADING/UNLOADING CHARGES                      300
OTHER CHARGES                                                   200
TOTAL                                                                  14710

Now, what is TDS deductible value ? Grand total 14710 or freight value 13560?

Please give response,

Thanking you.

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On 25 January 2021 at 22:37 Report
Replies (6)
Quick Summary
This discussion clarifies the deductible value for Tax Deducted at Source (TDS) on transport bills. The consensus is that TDS should be calculated on the freight charges only, provided that other charges like insurance, loading/unloading, and other miscellaneous expenses are clearly itemised and distinguishable on the bill. If these are not separate, the TDS might be applicable on the total value.

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Chartered Accountant
24588 Points Posted on 25 January 2021
On full value 14710 rupees
1 Reply
On 25 January 2021 at 22:42
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None
27 Points Posted on 25 January 2021

Respected Sourav Sir,

                                  Now query is that.

                                   Suppose, If amount of  material sent by supplier is 100000. And while receiving, we received shortage of 5000, which is claimable from transporter( as per deal ) . So now, while posting entry in books, we have to debit transporter ledger, but what should be credited ? 

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On 25 January 2021 at 22:59
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Accountant
4533 Points Posted on 25 January 2021
TDS will deducted on only freight value 13560.

I think material will debit and transporter will credit.
5 Reply
On 25 January 2021 at 23:23
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12244 Points Posted on 26 January 2021
TDS should be deductible on only freight charges if each and every charges for different heads of expenses are distinguishable.
1 Reply
On 26 January 2021 at 02:13
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Accountant
4533 Points Posted on 26 January 2021
Yep rama Krishnan is right. I am also saying this
1 Reply
On 26 January 2021 at 09:34
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Chartered Accountant
86505 Points Posted on 26 January 2021
Disagree with Sourav...

TDS is to be deducted on freight value only i.e. Rs.13560
1 Reply
On 26 January 2021 at 10:27

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