Tan no.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2012 Dear expert,
In case of a Cement dealer (individual), who started business in FY 2011-12 and in the same FY his turnover is 1 caror 5 lacs. In this regard I have some following queries -
1. Whether he sould obtain TAN no. to deduct TDS on freight.
2. Whether he has to file form 26Q from the FY 2011-12 or he can stat from 1st quarter of FY 2012-13.
3. In case transporter providing his PAN, or on time freight is under 35000/- then 26Q is reqired to file or not.
Please advise me.

CA mahesh birla

CA mahesh birla (Expert)
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29 July 2012 1.you have to obtain TAN. to deduct TDS

2. Once you obtain TAN then you are liable to file 26q quarterly.

3. yes nil return has to file

SANYAM ARORA

SANYAM ARORA (Expert)
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29 July 2012 Agree with the reply

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Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2012 In all transactions one time freight is to be around 15000/- and transporter provides their PAN printed on bilty.
Even after that am I liable to deduct TDS?

CA Rahul Jain

CA Rahul Jain (Expert)
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29 July 2012 Liability to deduct TDS arises if in the pervious year books of accounts were required to be audited u/s 44AB.

As the assessee has commenced business in FY 2011-12 and books are required to be audited u/s 44AB in current year, therefore TDS liability will arises from FY 2012-13 onward.

Further, TDS shall not be deducted on payment to transporter if the transporter provides PAN. However, the TDS return shall be filed mentioning other details of transporter from FY 2012-13 onwards.

Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2012 So it is the high time to obtain TAN ?

CA Rahul Jain

CA Rahul Jain (Expert)
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29 July 2012 Yes. Also file the belated return for the quarter ending June'2012