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WHAT IS TDS DEDUCTIBLE VALUE IN TRANSPORT BILL


Sahil Gera (None )     25 January 2021

Sahil Gera
None  
 27 points

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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.

Sourav

Sourav (Student)     25 January 2021

Sourav
Student 
 265 likes  4129 points

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On full value 14710 rupees
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Sahil Gera

Sahil Gera (None )     25 January 2021

Sahil Gera
None  
 27 points

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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 ? 

Krishna Chaudhary

Krishna Chaudhary (Accountant)     25 January 2021

Krishna Chaudhary
Accountant 
 597 likes  4468 points

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TDS will deducted on only freight value 13560.

I think material will debit and transporter will credit.
5 Like
rama krishnan

rama krishnan   26 January 2021

rama krishnan

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TDS should be deductible on only freight charges if each and every charges for different heads of expenses are distinguishable.
1 Like
Krishna Chaudhary

Krishna Chaudhary (Accountant)     26 January 2021

Krishna Chaudhary
Accountant 
 597 likes  4468 points

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Yep rama Krishnan is right. I am also saying this
1 Like
CA Rashmi Gandhi

CA Rashmi Gandhi (Chartered Accountant)     26 January 2021

CA Rashmi Gandhi
Chartered Accountant 
 4503 likes  56397 points

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Disagree with Sourav...

TDS is to be deducted on freight value only i.e. Rs.13560
1 Like

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