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Tds on transporter of goods
if a transporter quote his pan then no tds will deducted but whether a company for their practice can deduct tds @ 2%
Replies (6)
As per my knowledge, there is no need to deduct the tds. if they deduct the tds they can provide the tds certificate.
No need to deduct the tds as he has provided his PAN no.
As Noufal and Parul saxena said no need to deduct T.D.S as they submitted PAN to you but for Internal control purpose company may deduct T.D.S if receipient agreed to receive net amount. But above transaction come under Contract for T.D.S purpose so you need to deduct T.D.S @ 2% if payee is company otherwise deduct @ 1%.
Can Deduct
Non deduction on transportation needs to be separately disclosed in etds returns. TDSneed not be deducted
Tds need not be deducted provided the transporter gives pan. If not then deduct tds @ 20%. As no pan is available. And we have to consider highest rate for deducting tax.
Also the same need to be disclosed in the tds return.
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