25 February 2011
Hello friendz Can we make payment to transporter in following manner: 01/12/2010 Rs.25000/- cash Gr.No.101 01/12/2010 Rs.28000/- cash Gr.no.102
Here payment is given to same transporter only In this case material is coming in 2-3 trucks from same transporter and we make payments to them in cash but there GR.No.is different for each truck plz ans it thx
1) amount of single bill does not exceed Rs.30000/- and 2) Aggregate of amount does not exceed Rs. 75000/-
In Your case, amount of single bill is less than 300000/- and sum total of both the bill is less than 75000/-, TDS would not be deducted.
The above condition does not apply to transporter who furnish their PAN means no Tax is to be deducted in case of transpoter furnishing PAN irrespective of the amount paid to them
25 February 2011
If transporter quote their pan then no need to deduct tds. second as per expert Rs. 30,000/- ( Thirty Thousand) in single payment & 75000/- on accural basic tds should be deducted.
CAclubindia
