whether tds deductible on freight charges less than 30000 also if they dont have pan number???
4 Replies
CA Paritosh Jaisalmeria
(Doing CFA-USA)
(90 Points)
Replied 22 December 2012
No, TDS will not be deducted if any single sum paid or credited is less than Rs 30,000/-.However, if aggregate amount exceeds by Rs 75,000,than the payer is responsible to deduct TDS.
PAN is mandatory.
kavitha
(studying final)
(830 Points)
Replied 22 December 2012
if person has no PAN NO. then 20% rate is applicable if single payment is > 30000 n also if the aggregate amount exceeds 75000 then only. ( Aggregate amount 75000 in the year)
completely agree with PSJ90
- Yearly Limit u/s 194C:Also where the aggregate of the amounts paid/credited or likely to be paid/credited to Contactor or Sub-contractor exceeds Rs.75,000 during the financial year, TDS has to be made u/s 194C.
- TDS at higher rate ie., 20% has to be made if the deductee does not provide PAN to the deductor.(read detail u/s 206AA)
CMA RAVI
(ASSISTANT MANGER - FINANCE)
(478 Points)
Replied 24 December 2012
if a person does not provide pan no deduct 20% flat.
as simple as that
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