Tds

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 July 2015 I WANT TO KNOW IS TDS TO BE DEDUCT OR NOT ON TRANSPORTATION OF GOODS THROUGH CONTAINER CORPORATION OF INDIA LTD W.E.F.01-06-15

AS PER SOME ONE SAID ME WE HAVE TO DEDUCT TDS FROM THEM BUT ALSO WE HAVE TO PAY THEM TOTAL VALUE OF FREIGHT CHARGED BY THEM AND THE TDS OF OF FREIGHT @ 2% WILL BE CLAIM AFTER THE QUATER END THEN THEY WILL REFUND OR ADJUST IN NEXT TRANSACTION

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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16 July 2015 Yes you are required to deduct TDS u/s 194C @2% subject to threshold limit being crossed.

Threshold limit:

Single Bill/Payment Rs 30000/-
Annual Total Rs 75000/-