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Author Topic: Rate of TDS on freight charges  (Read 22930 times)
resjincc
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« on: April 02, 2009, 11:16:34 AM »

What is the rate of TDS for freight charges and which section is applicable?
« Last Edit: June 03, 2009, 08:18:01 AM by MyTaxes Support » Logged
MyTaxes_Expert
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« Reply #1 on: April 18, 2009, 11:55:52 AM »

The TDS on freight charges is 2.06%. The transporter or freight carrier firm is a contractor to carry your goods. Read:

Payments to resident contractors (section 194C). If any contract value exceeds Rs 20,000 or Rs. 50,000 in the aggregate during the financial year, you must deduct TDS at 2.06% of the payment if payment to contractor (for contracts other than advertising contracts). (Exception: Individuals and HUF whose sales/gross receipts in business is less than Rs 40 lacs or professional receipts is less than Rs 10 lac are not required to deduct the TDS).
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