Tds on transport

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 October 2012 WE ARE PAYING AROUND RS. 2,00,000.00 PER ANNAM TO A PARTICULAR PARTY AS TRANSPORT EXP. SHOULD WE HAVE TO DEDUCT THE TDS.
WHAT ARE THE RULL RELATED TO TDS ON TRANSPORT

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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10 October 2012 If they provide PAN no need to deduct any TDS but you are required to mention the details of such payment and party in your quarterly TDS return.

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CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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10 October 2012 Just Take The Photo Copy of Transporter PAN.
No Need to deduct TDS.

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Querist : Anonymous

Querist : Anonymous (Querist)

10 October 2012 SANJAY SIR , I AM NOT GETIING YOUR THINGS, IF WE ARE NOT DEDUCTING ANY TDS THEN WHY WE SHOULD SO,

FURTHER IF WE ARE PAYING RS. 5000000.00 TO PARTY AS TRANSPORTING EXP. SHOULD WE DEDCT

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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10 October 2012 Any amount paid is exempt from TDS if the transporter provides the PAN.

But as per reporting requirement you have to inform regarding such transactions through your quarterly TDS return.

CA.Vinita Gupta

CA.Vinita Gupta (Expert)
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10 October 2012 In my opinion if the Transporter is providing PAN then do not deduct TDS and there is no need for any disclosure in the TDS Return.

Please correct me if i am wrong

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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10 October 2012 Vinita Ji we are required to mention the details of payment made to Transporter. The rate will be NIL and we have to Flag it as transporter.

If you see the RPU you will know about this.

Also check the below post in this regard:

https://www.caclubindia.com/forum/transporter-details-in-tds-return-faq--111792.asp#.UHVrfC7Mgl8

CA.Vinita Gupta

CA.Vinita Gupta (Expert)
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10 October 2012 Thanks Sanjay ji for updating the same.

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