TDS deduction on ocean freight
This query is : Resolved
14 November 2009
is there any liability to deduct TDS on ocean freight which was paid by C&F. He includes ocean freight in his invoice.
15 November 2009
No TDS on Foreign shipping Co. & his authorized agent.
15 November 2009
My client reimburses ocean freight to C& F, who ultimately pays it to indian shipping line, So in this case TDS should be deducted by my client ????
15 November 2009
if your are paying to Indian company then TDS applicable on that reimbursment.under sec 194C.
15 November 2009
Now as a matter of fact i would like to know that whether TDS is applicable on reimbursement also.
Let us take an example:
C& F charges is to the tune of Rs. 1000.
Expenses reimbursed by my client to him includin g of ocean freight is amounting to Rs. 500000.00.
Hence for the totla bill charged by C&F is for Rs. 501000.
So should my client deduct TDS on 500000 also which is not part of
C&F income.. Please through shed on the issue of TDS on reimbursement.
Thanks
Let us take an example:
C& F charges is to the tune of Rs. 1000.
Expenses reimbursed by my client to him includin g of ocean freight is amounting to Rs. 500000.00.
Hence for the totla bill charged by C&F is for Rs. 501000.
So should my client deduct TDS on 500000 also which is not part of
C&F income.. Please through shed on the issue of TDS on reimbursement.
Thanks
16 November 2009
In your case No TDS Liability on Rs. 1000/- since this relates to reimbursement of expenses and your client is acting as a agent on behalf of third party. one thing which you need to do is, get a invoive from C& F agent which mention the reimbursement seperately.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Tax on capital gains revoked us 54f
- Inventory of finished goods
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Applicability of Ind As to associate of associate
- Refund of AY 22-23
- HSN Details in IFF/GSTR-1 & in GSTR 9
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
