Applicability of TDS on clearing and forwarding charges, Income Tax

[madhavvan n]

clearing and forwarding charges are they subject to tds is rutb eucted only if one payment exceeds rs. 20000/- or annula contract value exceeds rs. 50000

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[Ravi Chopra]

If amount for single bill or single payment is not exceeding Rs. 20,000/- no need to deduct TDS. On the other side, where gross amount for more than one bill (each are not exceeding Rs.20,000/-) is likely to paid or paid is exceeding Rs. 50,000/- you need to deduct TDS. Kindly refer to provisions of Section 194C - sub section (3) clause (i)