hi... can anyone tell me whether TDS need to be deducted on Freight payment for inward consignments received from parent company abroad. but payment is made by Indian company to Sanco.
5 Replies
ACMA VINEET TRIPATHI
(CA & CWA )
(60 Points)
Replied 09 June 2010
IF PAN FURNISHES BY TRANSPORTER THEN NO NEED TO DEDUCT TDS OTHERWISE 20% WILL BE DEDUCTED. IT IS COVERED UNDER NEWLY MODIFIED SECTION 194C.
CA. Dashrath Maheshwari
(TaXpert)
(15103 Points)
Replied 09 June 2010
Ask a copy of PAN Card from Sanco Trans and then no need to deduct TDS
Ramprasadp
(Chartered Accountant)
(24 Points)
Replied 10 June 2010
But as per modified income tax act, the PAN details needs to be submitted to income tax department in prescribed form. can any body tell what the form suggested...
BG Sable
(Service)
(24 Points)
Replied 10 June 2010
In case of payment of freight charges (Road Transport only) NO TDS is to be deducted only if Transporters give their PAN., Kindly collect a letter from Transporter along with a copy of their PAN Card. for more details pls go through www.supermoneycontrol.com .
Recent Topics
- Need your valueble insight
- GSTR-9 Invoices
- Agricultural Business Loss
- Reporting in gstr9 of ITC of Previous year reverse
- Tax on Reimbursement of House Rent
- MAHARASHTRA CHARITY COMMISSIONER WEBSITE
- Explanation 3 to section 11(1) read with section 4
- Ammendment in Partnership On Death of Partner and
- TDS Provisions applicability Tax Audit Individual
- NAME CHANGE OF HUF
Related Threads
CAclubindia
