On tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 March 2015 on what basis we have to deduct TDS paid as a transport Expense {i.e whether any Threshold limit's are their}

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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02 March 2015 If PAN provided by the transporter then no TDS required to be deducted.

No deduction shall be made from any sum credited or paid or likely to be credited or paid during the previous year to a contractor who is in business of plying, hiring or leasing goods carriages, on furnishing of his Permanent Account Number, to the person paying or crediting such sum.

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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02 March 2015 Also remember that the details of payment to such transporters along with their valid PAN needs to be shown in the TDS return with TDS amount being Nil.

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