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Please Advice

anand (professional) (122 Points)

07 February 2008

A Company is paying port handling charges(such as barge hire charges,port dues,shpping dues,laying charges Etc.) to its Port handling agent who is further paying the amount to the port trust which is operated by the Govt.

My query is that whether the company should deduct TDS to its agent?

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4 Replies

Venkatesh Rao (Service) (135 Points)
Replied 07 February 2008

is he charging for the services provided. if yes then check whether the payment(excluding port handl chgs) made to him is in excess of Rs.20000/- at a time or in the entire year. if yes deduct tax @ 2% u/s 194C + E.Cess @ 3%

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anand (professional) (122 Points)
Replied 07 February 2008

Thanks for the response. Should TDS be deducted for all types of services provided by the forwarding agent.

O.D.SHARMA (DGM-F & A) (1734 Points)
Replied 07 February 2008

yes, tds @ 2.26% for full payment.

Swathi.K (CA inter) (27 Points)
Replied 08 February 2008

hi I completed my CA PE II and i am leaving for abroad. I want to do CPA. Pls advise me what all books to follow and what books i need to buy from here?