Regarding TDS u/s 194c

Rajesh Kumar jakka (Querist) 18 December 2009 This query is : Resolved
Dear Expert,

now we are accouting last year i.e.2008-09 transportation bills.

my doubt is whether TDS on such bills is to be deducted or not?

if it is to be deducted then what % it is to be deducted?

by
raj

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A V Vishal (Expert) 18 December 2009
Yes it needs to be deducted @ the rates applicable viz. 2%+ Surcharge of 10% + Education cess of 3%. However, even if the payment is made now you cannot claim the benefit of the expenses in the accounting year 2008-09, it is disallowed for the purpose of computation of taxable income and will be allowed only during the year 2009-2010.

adv. rajeev ( rajoo ) (Expert) 18 December 2009
I agree with vishal

Raj Kumar Makkad (Expert) 18 December 2009
I also agree with Vishal.

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