Is TDS deducted on demurrage?
Plz support your answer with some case law or notification or any other strong supporting..
Plz help soon..
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TDS on demurrage
Replies (5)
AS per existing provisions of IT act, no TDS is deductible on demurrage paid. None of the TDS sections cover this.
| Originally posted by : Rajagopalakrishnan R | ||
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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
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.
AS per existing provisions of IT act, no TDS is deductible on demurrage paid. None of the TDS sections cover this.
NO ONE SPECIFIC SECTION OF TDS SAID ABT..THIS CHARGES....
TDS is deductible on demurrage charges paid. pls replay me as soon as possible.
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