TDS ON TRANSPORTER

This query is : Resolved

ABHIJEET VAIDYA (Querist)
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26 October 2009 Dear Reader,

I want to know the TDS on Transporter is removed w.e.f. 01.10.09, if Transporter provide his PAN no.

My query is if I recived a bill in Octomber related to September then I should deduct the TDS or not.

If you have any notification related to this then please send.

Thanks,
Abhijeet Vaidya

Shyam Lal Naik

Shyam Lal Naik (Expert)
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26 October 2009 Date of crediting to the account of the party(transporter) is relevant, no matter when the service was rendered.

Assuming, the accounting entry will be made in the month of Oct'09 and you have not made any advance payment prior to Oct'09, there is no need to deduct tds.

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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26 October 2009 Agree with expert

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ABHIJEET VAIDYA

ABHIJEET VAIDYA (Querist)
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26 October 2009 Thanks for the reply,

If I deduct the TDS on those bills recived in Octomber month & same is realted to prior Octomber month, then What will I do?

Thanks,

Abhijeet

Shyam Lal Naik

Shyam Lal Naik (Expert)
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26 October 2009 No TDS.

ABHIJEET VAIDYA

ABHIJEET VAIDYA (Querist)
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26 October 2009 Dear Reader,

If I done a monthly provision of transport cost. I debit this cost to freight account & same is reverse in next month. In this case can I deduct the TDS or not?

also there is any limit of transporter vehicals. i.e. if transporter having less than 2 vehicles then TDS not deducted.

Abhijeet

CA. C.N.PATIL

CA. C.N.PATIL (Expert)
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27 October 2009 yes , you have deduct tds , since u hav received , amount in the month of september , which is earlier than the date of notification & amendment , hence u need deduct tds ....