Dear All
I have received a debit note for Freight charges for Transportaion of Cement by Road on 06.06.15. My question is that is TDS applicable on freight charges debit note ??
Please give your valuable suggesions
Regards,
Shankar
5 Replies
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 09 June 2015
Yes it is applicable whether debit note or bill or just provision provided the creditor is known
Mohit Goel
(Article Trainee)
(56 Points)
Replied 09 June 2015
According to me tds not applicable while issue debit note
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 09 June 2015
@ Mohit: I don't agree with u, bcoz where income is credited to any account (whether called Suspense or any other name) in the books of person liable to pay such income, such credit shall be deemed to be credit of such income to the account of the payee.
One can interpret from the above that TDS provisions apply when the account of the payee is credited (as mentioned above). Account can be credited against debit note in this particular case.
ROYSON ANIL SEQUEIRA
(STUDENT)
(22 Points)
Replied 09 June 2015
Y to deduct tds on freight payment ?
CA Raj Doshi
(Practising CA)
(8939 Points)
Replied 10 June 2015
Sec 194C(6) - New provision w.e.f 01-06-2015 .
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