Tds

This query is : Resolved

vineesh chandran.k (Querist)
Follow

05 June 2012 Dear Sir,

Are the payments made by logistics company for the following is subject to TDS?
Payments to:
1.Airlines
2.CFS
3.Duty
4.Freight Forwarder
5.Shipping-Liner
6.Transport

Which one of the above is subject to TDS? Kindly provide the section also.

Thanks in advance

G.SARAVANA KANNAN

G.SARAVANA KANNAN (Expert)
Follow

06 June 2012 1.Airlines - TDS u/s.194C @ 2%
2.CFS - TDS u/s.194I @ 10%
3.Duty - Not applicable
4.Freight forwarder - TDS u/s.194C @2%
5.shipping-Liner -if Non-Resident=NA Resident - 194C TDS @2%
6.Transport - If PAN provided, TDS - NIL otherwise TDS @ 20%

Hope this will help you.

G.SARAVANA KANNAN

G.SARAVANA KANNAN (Expert)
Follow

06 June 2012 shipping liner - Shipping business of non-residents regulated by IT Sec.172

G.SARAVANA KANNAN

G.SARAVANA KANNAN (Expert)
Follow

06 June 2012 Transport - Exempted by Sec.194c(6)
No deduction shall be made from any sum credited or paid or likely to be credited or paid during the previous year to the account of a contractor during the course of business of plying, hiring or leasing goods carriages, on furnishing of his Permanent Account Number, to the person paying or crediting such sum.

vineesh chandran.k

vineesh chandran.k (Querist)
Follow

06 June 2012 Dear Sir,

Thank You for your Support.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now