Freight tds section

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August undefined, 2024

WebMar 13, 2009 · While making any payment for service obtained from a non-resident shipping company, sec 194c will not be attracted. Sec 195 says, must deduct TDS while making payment to non-resident shipping company. Accordingly when he is assessed under 172, he is paying 7.5% tax on income. My doubt is when we make payment such a NR foreign … WebJan 23, 2024 · Computation of income of non-resident shipping entities posed many challenges and to ease the same Section 44B was enacted vide Finance Act, 1975 …

TDS on Storage charges pay to container freight station

WebMar 29, 2010 · I having problem to deduct TDS on storage pay to container freight station. please give guidlines to me that tds deducted in this issue u/s 94C or 94I. Bhaskaran … WebJul 9, 2024 · BGSS & Associates Changing TDS landscape 4 Changing Role of TDS/TCS provisions: Collection of tax at transaction level to contribute to government exchequer (e.g. 194J, 194C, section 194D) Ensure tax is collected at point of receipt so that taxpayer is not saddled with tax after receipt of income (e.g. salary income) Reporting of high value … katharinenhof startseite

TDS on Transporter - Saral TDS

WebThe full TDS rates 2024-21 with section references are presented below in the table & the explanation in the annexure. One must deposit the deducted amount timely to the government treasury. ... Freight forward agency commission: Section 52M: 15%: 17: Rental power: Section 52N: 6%: 18: Foreign technician serving in diamond cutting: Section … http://www.tds-transport.com/ WebMay 26, 2024 · The Threshold Section 194J Under TDS Section 194J under TDS (Tax Deducted at Source) will be not deducted where the prescribed payment or credit does not exceed the prescribed threshold limit. We would like to mention here that the limit is applied and varies for each of the above services section 194J under TDS (Tax Deducted at … laya healthcare consultants

TAX DEDUCTION AT SOURCE ON PURCHASE OF GOODS UNDER …

TDS on payment to contractor or sub-contractor – Section 194C

WebAs we all that, before Finance Act, 2015, the existing provisions of section 194C of the Act payment to contractors is subject to tax deduction at source (TDS) at the rate of 1% in case the payee is an individual or Hindu undivided family and at the rate of 2% in case of other payees if such payment exceeds Rs. 30,000 or aggregate of such payment … WebFeb 11, 2024 · The threshold for deduction of TDS on Transportation Charges is currently set at Rs. 30,000 in a single transaction and the aggregate amounts do not exceed Rs. … katharinenhospital faxWebThe provisions of Section 194 Q are made applicable with effect from July 1st, 2024. Point of Taxation: TDS shall be deducted (i) at the time of credit of such sum to the account of … laya healthcare compare

"WebAug 19, 2016 · Section 194C – TDS on payment to contractor or subcontractor As per Circular No. 715 Dated 08-08-1995, Any Payments Made to Clearing and Forwarding Agents for Carriage of Goods shall be subjected to deduction of tax at source under Section 194C Section 194J – TDS on Fees for Professional or Technical Services " - Freight tds section

Freight tds section

TDS on purchase of goods under Section 194Q - Microsoft Support

WebJan 27, 2024 · – Assessing Officer disallowed an amount paid towards reimbursement of freight charges under section 40(a)(ia) on which TDS was not deducted – Issue before the court was as to whether since payment towards reimbursement of freight charges to C & F agent had no income element embedded in it, assessee was not liable to deduct tax at … WebDriving Directions to Tulsa, OK including road conditions, live traffic updates, and reviews of local businesses along the way.

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WebMay 16, 2024 · We hope that this article has explained to you in detail the section 194C, TDS on transportation charges (freight), and the relevant provisions related to rate and … WebMay 14, 2024 · You presented an invoice of Rs 50,000/- and the person paying freight paid you a net amount of Rs 49,000/- (after deducting tax of Rs 1,000/- @ 2% under section 194C). In this case, the deductor deducted tax @ 2% instead of 1% and hence deducted excess TDS by Rs 500/-.

WebJun 15, 2024 · TDS under section 194C is not required to be deducted in following cases: The amount of payment made to the contractor in a single contract which does not exceed Rs.30,000.If the aggregate amount of such contracts in a financial year exceeds Rs.1,00,000 then TDS will be deducted. WebThe Township of Fawn Creek is located in Montgomery County, Kansas, United States. The place is catalogued as Civil by the U.S. Board on Geographic Names and its …

WebNov 14, 2009 · TDS on 172. 14 November 2009 paying ocean freight to agent of NRI alongwith THC and other charges.Section 172 exempts ocean freight from TDS but what about other charges??? such as THC etc. Is TDS deductible on such other charges @ 2 % or these are also exempt u.s 172. 14 November 2009 It depends on who is billing for the … Webtax at source under Section 194C of the Income-tax Act, 1961 (the Act) on freight charges reimbursed to the supplier. While dealing with Section 194C of the Act, the High Court observed that the liability to deduct tax at source on the freight charges was that of the supplier while making payment to the transporter. Facts of the case

WebApr 19, 2024 · TDS shall be deductible on consideration paid for purchase of immovable property (other than agricultural land) under section 194-IA and not under this section. TDS is deductible under that section if consideration is Rs. 50,00,000 or more. 6. Whether TDS is required to be deducted on the transaction in electricity?

WebApr 10, 2024 · GST implications on Part 2 - Mr. X supplies goods to Mr. Y. Section 15 (1) of the CGST Act provides that the value of supply of goods or services shall be the transaction value. Further, the transaction shall include various items listed in Section 15 (2) which inter-alia includes any amount charged by the supplier for anything done in respect ... laya healthcare company plansWebAug 6, 2024 · Article explains TDS Rates for Financial year 2024-23 i.e. Assessment Year 2024-24 under Income Tax Act, 1961. Article contains TDS Rate Chart, Threshold limit ... First Proviso to sub-section (1) of section 194R- TDS in case any Benefits or perquisites of business or profession where such benefit is provided in kind or where part in cash is ... laya healthcare companyWebMay 24, 2024 · Hello, I Really need some help. Posted about my SAB listing a few weeks ago about not showing up in search only when you entered the exact name. I pretty … laya healthcare costs