pls tell what is TDS CONCEPT IN RELETION TO TRANSPORTOR

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pls tell what is TDS CONCEPT IN RELETION TO TRANSPORTOR ..

Answer / m.amaan

WITH EFFECT FROM (W.E.F) 01.04.2010,IF THE TRANSPORTER
FURNISHES HIS PAN NO. ON HIS LR/BILL,THEN NO TDS WILL BE
DEDUCTED & IF THE TRANSPORTER FAILS TO FURNISH OR QUOTE HIS
PAN NO.ON THE LR/BILL THEN TDS WILL BE DEDUCTED DIRECTLY
@20% FROM HIS BILL/INVOICE

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pls tell what is TDS CONCEPT IN RELETION TO TRANSPORTOR ..

Answer / shankar kumar

The rule of tds deduction related contractor is

TDS Rate 2 %
Surcharge 10% (if amount exceed 10 lac)
EC 2% & SHE 1% total = 3 % on (TDS & Surcharge)

In sub-contract TDS rate is 1%

Condition

1. Tds deduction starts when Single payment exceeds 20,000/-
& agreegate payment exceeds Rs.50,000/-.
2. once deduction starts tds will be deducted on whole
amount which has been paid to the certain constractors
earlier without deduction.

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pls tell what is TDS CONCEPT IN RELETION TO TRANSPORTOR ..

Answer / rajnath maurya

this catagory falls under sub-contractor hence tds
applicable@ 1%+3% cess dont includ the service tax in such
calculation

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pls tell what is TDS CONCEPT IN RELETION TO TRANSPORTOR ..

Answer / ca.sunil kumar agarwal

W.e.f. FY 2010-11 new rule inserted by the Finance Minister
in this case if the transporter submit the PAN No to the
service taker in that case no TDS will be deducted but if
the transporter does not provide the PAN no then in that
case tds will be deducted on the entrie value of the
service provided during the Fy.

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