01 November 2012
One of our client had made payment @ 25000/- to different 10 transporter, but no PAN had been provided by the transporter. Whether my client is required to deduct TDS or threshold limit of Rs. 30000/- will be applicable?
01 November 2012
If this payment woulb be the only one payment to the same transporters in whole financial year then obviously no need to deduct TDS, but if in future if any payment would be happen then you have to deduct TDS at that payment as well as this payment with intrest and penalty.
So best solution is you should deduct TDS and ask for PAN from him or otherwise deduct TDS as prescribed in the section 194C @20%.
CAclubindia
