Shivani (Accountant) (78 Points)
02 January 2015hiiiii,
I have a query regarding deduction of TDS on Services provided by transport agency or any logistic company.
KyaTDS katna chahiye on payment made to clearing & forwarding agent for services provides for clearance of goods from custom department?
what is the treatment, if this clearing & forwarding agent is transport or logistic company?
please rply as soon as possible.
Arif Ali
(Apt Co Advisory)
(1230 Points)
Replied 02 January 2015
Hi Shiwani,
Clearing & forwarding agent is not transport company. I think you are talking about the Clearing house agent.
The TDS u/s 194C will be dedcuted on the payment or at credit (whichever is earlier) to Clearing & forwarding agent.
Meaning thereby your comapny is liable to deduct the TDS @ 2% if CHA is other than Individual & HUF. otherwise at 1%.
In other words, if you books the expenses at first before payment, then you must pass the entry for TDS at the time of booking the expense.
I hope your query is now clear.
Shivani
(Accountant)
(78 Points)
Replied 05 January 2015
THANK MR. ARIF.
But i m questioning whether TDS has been deducted or not, when on payment made to clearing & forwarding agent and status of assess, mean to say clearing & forwarding agent is transport company.
Arif Ali
(Apt Co Advisory)
(1230 Points)
Replied 05 January 2015
TDS @ 2% must be deducted. all otherthing cleared above.
it is not covered under transport co
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