Tds on transport
This query is : Resolved
26 December 2013
Dear Sir
i am work in manufacturing industry,in this co.purchase raw material and transportation paid in cash of that and payment are more.
Please suggest me when tds liability arise and what is maximum amount can be paid in cash for one truck and what document required.
i am work in manufacturing industry,in this co.purchase raw material and transportation paid in cash of that and payment are more.
Please suggest me when tds liability arise and what is maximum amount can be paid in cash for one truck and what document required.
26 December 2013
DEAR HIMMAT BHI,
AS PER SEC 40A(3)(a)
u can pay transport charges not more then 35000/-
second one you are paying on behalf creditor restricted 20000/- only
as per tds provisions no tds when pan card provided by the transporter.
Thnks,
AS PER SEC 40A(3)(a)
u can pay transport charges not more then 35000/-
second one you are paying on behalf creditor restricted 20000/- only
as per tds provisions no tds when pan card provided by the transporter.
Thnks,
26 December 2013
thanks for repaly
If we paid more than 2 lacs to a transporter for charges than TDS arise or not because
exceed basic limit..
it is possible ,we use driver's pan card copy.
If we paid more than 2 lacs to a transporter for charges than TDS arise or not because
exceed basic limit..
it is possible ,we use driver's pan card copy.
26 December 2013
1)your case it is covered under section.194C(6) and you dont need to deduct TDS on payment made to transporter if he provides his valid PAN and
*************************************************
2)at the same time it is mandatory to file details of transporter with nil deduction in TDS return also..to know how kindly refer my article,,
.
.
https://www.caclubindia.com/articles/inclusion-of-transporters-details-in-tds-returns-are-mandatory-17543.asp#.UrvzdPQW11Y
****************************************************
3)Note that you have to quote your transporter(who is engaged in the business of carraige of goods in normal course of business) PAN number in your TDS return with nil deduction..if your driver is the transporter you can quote his PAN.but if amount paid by you not an income to driver and he has to pay to some one it will be problem to him,,
.
.
it is better to have an agreement with the transporter and collect his PAN at the time itself..
.
.
.
However you cannot escape from Sec.40A(3) disallowance if single cash payment exceeds 20000 in day to a single party
*************************************************
2)at the same time it is mandatory to file details of transporter with nil deduction in TDS return also..to know how kindly refer my article,,
.
.
https://www.caclubindia.com/articles/inclusion-of-transporters-details-in-tds-returns-are-mandatory-17543.asp#.UrvzdPQW11Y
****************************************************
3)Note that you have to quote your transporter(who is engaged in the business of carraige of goods in normal course of business) PAN number in your TDS return with nil deduction..if your driver is the transporter you can quote his PAN.but if amount paid by you not an income to driver and he has to pay to some one it will be problem to him,,
.
.
it is better to have an agreement with the transporter and collect his PAN at the time itself..
.
.
.
However you cannot escape from Sec.40A(3) disallowance if single cash payment exceeds 20000 in day to a single party
26 December 2013
yes agree to ganesh bhi
transporter pan card not driver's pan card remember.
transporter pan card not driver's pan card remember.
26 December 2013
Thanks......
ok we collect pan copy.
but we paid to him for 5 truck rs.25000 each in cash to his driver..is it possible...
ok we collect pan copy.
but we paid to him for 5 truck rs.25000 each in cash to his driver..is it possible...
27 December 2013
don't pay more then 35000 to single transporter in a single day.
if possible split different dates.
Remember one thing driver is not a creditor, he is only Representative on behalf off transporter.
Tnks,
if possible split different dates.
Remember one thing driver is not a creditor, he is only Representative on behalf off transporter.
Tnks,
28 December 2013
Thanks...
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