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TDS Rates

Shamita (Learner) (410 Points)

17 July 2009

Hi, I am new to the forum. Please tell me what TDS rate will be applicable to payment for freight? Whether payment to courier will also attract TDS

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11 Replies

N.J.R (Practice) (346 Points)
Replied 17 July 2009

1) Pyt of Frieght - Pyt to contractors

2) Yes pyt to Courier Co attracts TDS as it is pyt to contractor if pyt per bill exceeds Rs. 20000 & aggreagte pyt for the year exceeds Rs. 50000.

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laxman suthar (Asst. Manager Taxtation ) (329 Points)
Replied 17 July 2009

courir not liabile to tds & freight included Transport than it liabile to tds if bill single bill amount 20000/- or more & if yearly transport credit 50000/- or more of a party

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Jyoti Gupta (CA student) (71 Points)
Replied 17 July 2009

Yes It is applicable under TDS on contractor on Freight only if the single bill exceeds Rs.20000/- or total bill amt. during a year exceeds RS.50000/-.

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Ajay Sharma (Student / Industry) (27 Points)
Replied 17 July 2009

yes joti is right if the single bill exceeds Rs.20000/- or tolal bill amt during in a FY exceeds Rs. 50000/- will be aplicable ......................

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Shamita (Learner) (410 Points)
Replied 17 July 2009

Thank you everyone for the replies. We have filed 26Q E-Tds for Qtr 1 of 2009-10. But we have skipped deduction on TDS on some amounts. Can the revised E TDS return be submitted after depositing the TDS with Interest?

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N.J.R (Practice) (346 Points)
Replied 22 July 2009

Originally posted by :Shamita
"	Thank you everyone for the replies. We have filed 26Q E-Tds for Qtr 1 of 2009-10. But we have skipped deduction on TDS on some amounts. Can the revised E TDS return be submitted after depositing the TDS with Interest?	"

Yes u can revise 26Q1.