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TDS has to be deducted u/s 194I @ 2% i.e

TDS on plant & machinery

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12y ago

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Whether tds is applicable for terminal handling charges charges paid?

Yes, terminal handling charges are subject to TDS (Tax Deducted at Source) as per the provisions of the Income Tax Act. This means that a percentage of the payment made towards terminal handling charges needs to be deducted and remitted to the tax authorities by the payer. It's important to ensure compliance with TDS regulations to avoid penalties or legal implications.


Complete information about TDS?

TDS, or Tax Deducted at Source, is a tax collection mechanism in India where a certain percentage of tax is deducted from payments made to individuals or entities at the time of transaction. It applies to various income sources, including salaries, interest, rent, and professional fees, and the deducted amount is submitted to the government. The rates and provisions for TDS are governed by the Income Tax Act, and taxpayers can claim credit for the TDS deducted against their total tax liability. Failure to comply with TDS regulations can result in penalties and interest charges.


Is tds is applicable in goods transport freight?

TDS is an abbreviation in the transportation industry when freight charges are assessed. TDS means Transport Deductor Service. This means that the transporter of the freight is required to have certain credentials that meet the laws of both countries involved when shipment occurs overseas.


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As per my opinion Lab Testing can be done by a professional Person. SO TDS should be deducted under section 194J. Thank You CA Priyank Bhattar.


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Generally, a TDS level between 50-150 is considered as the most suitable and acceptable. Ans: If the TDS level is about 1000 PPM, it is unsafe and unfit for human consumption.