Lorry fright payment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 April 2012
hi iam working as an accountant in partnership firm we are paying lorry frights
by cash below 30000/-
and above 30000/-paying by way of cheque in the name of Truck Owner we received pancard also but we are not filing TDS returns
this method is correct or not
by cash below 30000/-
and above 30000/-paying by way of cheque in the name of Truck Owner we received pancard also but we are not filing TDS returns
this method is correct or not
17 April 2012
If aggregate of payments made in cash to a single person exceeds Rs. 30,000 in a financial year, then u r required to obtain PAN. If no PAN is obtained, then TDS to be deducted u/s 194C.
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