10 November 2011
e-TDS Return for Payment to Transporter Having Pan Number Some questions regarding submission of e-TDS return on payment to Transporter while producing Pan Number of the Transporter are as under :-
TDS will be dedcuted or not. e-TDS return will be submitted or not. In a complete quarter there is no deposit of TDS under any section except payment to transporter (Pan Holders) without deducting TDS. e-return will be submitted or not. How can i submit e-TDS return through NSDL software.
Answers:-
If transporter provide his Pan number then TDS will not be deducted on payment of Freight to transporter. In case without PAN holder, threshold limit is 30000/- as a single payment and 75,000/- in a whole year w.e.f. 01.07.2010. Yes, it is mandatory to submit e-TDS return on Payment of Freight without deducting TDS on it. In case return is not submitted, penalty can be imposed. Yes, e-tds return will be submitted for information to the Income Tax Department. of the Name of transporter with Pan Numbers alongwith detail of Freight amount received by them. e-tds return through NSDL software can be submitted with the following setting:-
Cheque No, BSR code and Transfer Voucher /Challan Serial No. will be blank and in the column "Date of which tax deposited" may be the Last Date of selected Quarter in Challan Sheet. Section Code will be 94C and other columns will be entered as Zero (0). Select "T" in the column "Reason for of Non-Deudction or lower deduction of Tax of the Annexure-1. Date of deduction in Annexure-I will also be blank.
In this way if TDS payable is zero and you have made payment of freight without deduction of TDS due to having of Pan Number's with the transporter, e-TDS return can be submitted.
Sample file generated through NSDL Software is given here. (click here) to download the sample file). "T" is also already selected in Proper Column. Just change data as per your TAN or books and prepare your e-tds return in minutes. Keep in mind that Don't enter any value (even zero) in Blank Columns. Left them blank and correct your data.
CAclubindia
