Tds on transporter payment.
This query is : Resolved
10 August 2015
Pls clear my doubt.
We have regular transport charges for diff. diff. courier. but amount is less than Rs. 5000/- we paid this amount through cash. on this transaction is it necessary to deduct tax @ 2% or not???? What is the limit for making cash payment to transporter.
We have regular transport charges for diff. diff. courier. but amount is less than Rs. 5000/- we paid this amount through cash. on this transaction is it necessary to deduct tax @ 2% or not???? What is the limit for making cash payment to transporter.
10 August 2015
Cash payment limit for transporter is 35,000. Tds applicable if single payment exceeds 30,000 and yearly payments exceeds 75,000 to single transporter.
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10 August 2015
Thanks sir,
It means if today we pay Rs. 5000/- to "XYZ " there is no need to deduct TDS.
It means if today we pay Rs. 5000/- to "XYZ " there is no need to deduct TDS.
10 August 2015
Yes you are right...........
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