New TDS Rates

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 November 2009 I would like to know whether TDS has to be deducted from payment to freight contractors u/s194C w.e.f.01/10/2009? If yes, what is the rate?

ANIL JANGID

ANIL JANGID (Expert)
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02 November 2009 TDS on Transport Contractors U/s 194C is removed w.e.f. 01/10/2009 on furnishing the PAN details of the payee.

Taranjit Singh

Taranjit Singh (Expert)
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02 November 2009 The nil rate will be applicable if the transporter quotes his PAN. If PAN is not quoted the rate will be 1% for an individual/ HUF transporter and 2% for other transporters upto 31.3.2010

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Rahul Vora

Rahul Vora (Expert)
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03 November 2009 WEF 01/10/2009, TDS on transporters is NIL, provided the transporter qoutes his PAN. If PAN is not quoted, then the rate of TDS will be 1% for ind / HUF and 2% for others upto 31.3.10