TDS for transporters

TDS 2717 views 10 replies

Dear Friends,

 

I wanted to know what is the treshhold limit for payment to contractors (Transporters) if the transporter doesn't furnishes the pan no does the same slab as applicable for other contract u/s 194c will apply or on all payments TDS to be deducted

Replies (10)

If the Transporter did not furnish the pan card then the flat rate  of 20% TDS will be deducted their payable amount.

Mr. Ravi is correct. Further, there is no limit for payment or credit to anyone who doesn't furnish PAN. TDS will be deducted @ 20% only, in such cases.
  • In case of payments or credits of payments which are covered by Sec 193 – Sec 194 LA the threshold limit as notified under the respective sections should be taken into consideration.

  • The sections mentions clearly that no tax is required to be deducted where the amount or income or as the case may be the aggregate amounts of such income are paid or likely to be paid during the financial year by the aforesaid person to the account of the payee does not exceed the threshold limit mentioned in the respective sections.
  • Thus when tax is not required to be deducted under these sections, Sec 206 AA cannot be activated even if the recipient does not furnish his PAN.

Because, section uses the words--"Notwithstanding anything contained in any other provisions of this Act, any person entitled to receive any sum or income or amount, on which tax is deductible under Chapter XVIIB

Plz correct me if m wrng

Dear freind

How much the limit in case of payment to transporter, where tds not reqiured in the absance of PAN

thanks

IF TRANSPORTER DOES NOT FURNISH PAN THAN TDS IS DEDUCTED @ 20%. THIS IS ONLY WHEN IT CROSSES THE THRESHHOLD LIMIT OF 30000 SINGLE BILL AND 75000 AGGREGATE

i am agree with RAVi if transport does not furnish apn then deduct TDS 20%

Agreed with Ravi and if PAn is provided than no TDS is required to deduct.

AGREE WITH ABOVE TO ALL...

NO TDS IS TO BE DEDUCTED ON TRANSPORTER,PROVIDED PAN NUMBER IS GIVEN IF NOT...

IF PAN NO IS NOT PROVIDED THEN 20% TDS IS DEDUCTED....

I agree with Mr. Praveen.

thanks a lot


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