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Ramesh Sharma
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Enlightened
Asked: 2024-10-29T10:20:36+05:30 In:

Is TDS deducted on Transports? is there any exemption on it?

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Is TDS deducted on Transports? is there any exemption on it?
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    3 Answers

    1. Beginner

      The standard TDS rates for transportation charges are as follows: 1% for individual or Hindu Undivided Family (HUF) transporters. 2% for other entities. Exemptions- If a transporter owns fewer than ten goods carriages and has submitted their PAN, TDS deduction isn't necessary.

      The standard TDS rates for transportation charges are as follows:

      • 1% for individual or Hindu Undivided Family (HUF) transporters.
      • 2% for other entities.

      Exemptions- If a transporter owns fewer than ten goods carriages and has submitted their PAN, TDS deduction isn’t necessary.

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    2. Enlightened

      Yes, TDS is applicable to transporters under section 194c, with @1% for individuals/HUF and @2% for others. Yes, the exemption is also available to the transporter of goods. As per Section 194C(6) 0f the Income Tax Act, 1961 "No deduction shall be made from any sum credited or paid or likely to be cRead more

      Yes, TDS is applicable to transporters under section 194c, with @1% for individuals/HUF and @2% for others.

      Yes, the exemption is also available to the transporter of goods.

      As per Section 194C(6) 0f the Income Tax Act, 1961 “No deduction shall be made from any sum credited or paid or likely to be credited or paid during the previous year to the account of a contractor during the course of business of plying, hiring or leasing goods carriages, [where such contractor owns ten or less goods carriages at any time during the previous year and furnishes a declaration to that effect along with] his Permanent Account Number, to the person paying or crediting such sum.”

      A specimen of the Declaration by Transporter is attached herewith.

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    3. Teacher

      Yes, TDS is applicable on transportation Exp. Subject to following Single payment to single transporter exceeds Rs. 30000/- or Multiple payments to single transporter exceeds Rs. 100000/-   Rate of TDS is 1% and 2% if paid to partnership firm or companies   There is exemptions from TDS ifRead more

      Yes, TDS is applicable on transportation Exp. Subject to following

      Single payment to single transporter exceeds Rs. 30000/- or Multiple payments to single transporter exceeds Rs. 100000/-

       

      Rate of TDS is 1% and 2% if paid to partnership firm or companies

       

      There is exemptions from TDS if deductee provides you declaration U/s 194(6) for non deduction

       

      But in both above cases (whether TDS deducted or declaration received) you must file your TDS return..

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