LORRY RENT -TDS

saravanan (proprietor) (71 Points)

15 May 2010

Dear Sir,

Lorry rent paid above 25000/- to be deducted TDS?

Reply
Follow
Share

6 Replies

C.Balaji (Learner) (1867 Points)
Replied 15 May 2010

Please see the attachment....

Source : Caclubindia

Attached File : 4 tds chart fy 2010 11 1 .pdf downloaded: 314 times

Rahul (B.Com LL.B ICWA(Finalist)) (62 Points)
Replied 15 May 2010

As per sec 194(c) Payment to transport operators as defined in sec 44AE on furnishing of PAN TDS is 0%.

ie. if the transporters has PAN no TDS will deduct.

so, Pl check PAN, of available no TDS will be deducted.

Rahul

C.Balaji (Learner) (1867 Points)
Replied 15 May 2010

Originally posted by : Rahul
	As per sec 194(c) Payment to transport operators as defined in sec 44AE on furnishing of PAN TDS is 0%. ie. if the transporters has PAN no TDS will deduct. so, Pl check PAN, of available no TDS will be deducted. Rahul

agree....

The NIL rate will be applicable if transporter quotes his PAN. If PAN is not quoted the rate will be 20 %.

CA Punit GoSwaMi (Chartered Accountant) (310 Points)
Replied 16 May 2010

limit is 35000 na?

GEETA (CHARTERED ACCOUNTANT) (21 Points)
Replied 18 May 2010

HI..the limit of 35000 is for transort charge payment in cash on a single day..chek sec 40A(3)

Deepak Tapse (Accounts Manager - Taxation) (1771 Points)
Replied 19 May 2010

If transporter furnished his PAN then TDS @ 0%, if not furnished then @ 20% is to be deducted

Start a New Discussion