04 October 2012
My friend's client is agent of cement bussiness. Suppose total biiling is Rs 300 in mkt. But co.charging from agent ex-factory billing say Rs 250 (excluding transportation of Rs 35 & RS4 & dealer 10 ).i.e. the dealer pay the RS 289 (254 to agent & 35 to transporter). Tell me whether any TDS implication on frieght lies on agent on whom behalf Dealer pay the transportaion . Where agent has the copy of PAN Card & RC of Truck driver. Where Cement co. officer is saying there is no anylia. of agent regarding any tax except VAt & tax on personnel income. Please guide the same (at a time total pyt to truck driver is RS 24000-26000) & (in a year Rs 5 lac - 8 Lac)
04 October 2012
TDS is required to be deducted if the payment is directly made by the agent to the Transporter and also as per the new provision TDS is not required if the Transporter quotes his PAN
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