Is TDS deducted on demurrage?
Plz support your answer with some case law or notification or any other strong supporting..
Plz help soon..
Rajagopalakrishnan R
(PARTNER)
(1422 Points)
Replied 22 September 2011
AS per existing provisions of IT act, no TDS is deductible on demurrage paid. None of the TDS sections cover this.
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 22 September 2011
| Originally posted by : Rajagopalakrishnan R | ||
 |
AS per existing provisions of IT act, no TDS is deductible on demurrage paid. None of the TDS sections cover this. |
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agreed
Mihir
(Wealth Manager)
(5293 Points)
Replied 23 September 2011
Demurrage arises when the time limit for loading/uploading of cargo from the vessel goes beyond the laytime as per the charter party.
TDS is deducted from the payments made to the port for vessel stay for cargo discharge. So I think TDS can be deducted from demurrage. You may have to look into a circular issued by some port on this matter.
CA PRAVEEN SINGH
(MANAGER ACCOUNTS)
(2277 Points)
Replied 23 September 2011
AS per existing provisions of IT act, no TDS is deductible on demurrage paid. None of the TDS sections cover this.
SUBBIAH
(FINANCE CONTROLLER)
(21 Points)
Replied 04 April 2012
TDS is deductible on demurrage charges paid. pls replay me as soon as possible.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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