CA SANDESH MAHIPAL (Practicing in GST and MSME ) (1985 Points)
10 April 2015
J. K. Ratan
(Compliance Advisor)
(794 Points)
Replied 10 April 2015
Dear Sir
As per section 40A(3) of income tax act 1961:-
Any payment made to a Transporter for plying or hirring of transport
- In a single day
- To a Single tranporter
- Is more than INR 35,000.
- Through other than Cheque, A/c payee, Bank is disallowed under section 40A(3) of income tax act 1961.
In Short words :- You can pay freight charges in cash upto INR 35,000 in a single day to Single Transporter
For TDS :-
If Transporter submit a Copy of PAN card than no need to deduct TDS on payment made to Transporter.
Rupesh Soni
(Taxation Consultant & CA final student)
(504 Points)
Replied 10 April 2015
CA SANDESH MAHIPAL
(Practicing in GST and MSME )
(1985 Points)
Replied 10 April 2015
MEHUL SHAH
(Auditing Taxation XBRL Training )
(440 Points)
Replied 12 April 2015
CAclubindia
