TDS deduction of Transporter

This query is : Resolved

Hanmantu N.Sai (Querist)
Follow

03 August 2009 Dear All,

Pls. guide me regarding rate of TDS deduction of Transporter if i am contractor.

whether @1.03% or @2.06%

please guide.

Santosh Mishra

Santosh Mishra (Expert)
Follow

03 August 2009 In case of payment by contractor applicable rate will be rate applicable to subcontractor, which is 1%+Cess and also Surchage (if aplicable)

Shyam Lal Naik

Shyam Lal Naik (Expert)
Follow

04 August 2009 I assume that you are a transport contractor and your query is regarding TDS being deducted by your employer.

The rate of TDS is 2% at present. Surcharge & Education Cess has been done away with.

With effect from 01.10.09, no TDS will be deducted, if you furnish your PAN to the deductor.

Upgrade to CAclubindia Pro. Subscribe Now!