regarding deductibility of tds

This query is : Resolved

ROHIT BANSAL (Querist)
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27 July 2010 MY ASSESSEE IS ENGAGED IN GTA SERVICES AND THERE IS A EXPENSES "LORRY HIRE CHARGES" IS BEING DEBITED TO THE P&L A/C....WHETHER MY ASSESSEE IS REQUIRED TO DEDUCT TDS ON THIS TRANSACTION.....WHETHER THIS IS A CONTRACT NATURE TRANSACTION......AND SAME LORRY IS REPEATED MORE THAN 10 TIMES IN A YEAR AND PAYMENT IS EXCEEDING RS.50000 P.A.MONETARY LIMIT....

PLEASE REPLY SOON IT'S URGENT....
THANKS IN ADVANCE

Ca Aashish Upadhyay

Ca Aashish Upadhyay (Expert)
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27 July 2010 Dear Rohit

If the Lorry Hire Charges are paid to outside parties than on net payment the TDS is required to be deducted.

As far as the repairing is concern if payment is exceeding 50000/- for service charges only (and NOT THE COST OF MATERIAL) than too ur required to deduct TDS

caaashishupadhyay@gmail.com