All fees imposed during or after shipping are the responsibility of the customer (tariffs, taxes, etc.). ... TDS on payment to shipping agent/shipping line This query is : Resolved Report Abuse Follow Query Ask a Query. TDS LINE manages the movement of cargo by air, land & ocean to and from any destination worldwide. The charges you mentioned are not storing charges, but professional charges. ie., if the company has NOC as per DTAA, while making freight for exports to that NR shipping company, do we need to deduct TDS… Reliance was made upon Associated Cement Co.Ltd vs. CIT [1993] 201 ITR 441 (SC), where it was observed that it is impossible to hold that the deduction of tax has to be confined to the income component of the contractor, that there is nothing in the language of the section which permits exclusion of an amount paid to the contractor. The rate of TDS is as under: – TDS shall be deducted @ following rates u/s 194C depending on whether the payee is an Individual/ HUF or other than Individual/ HUF: The item charge on the separate purchase invoice is now assigned to the item on the posted purchase receipt, thereby updating the item's inventory value with the cost of the item charge. Case Details: ITA No.257(Asr)/2014 Assessment year:2006-07 Copyright © TaxGuru. If this distinction of who pays what charges for a sea freight shipment is not made clear right from the beginning – either at sales contract stage between buyer and seller or at booking stage between shipping line and booking party, there could be additional charges incurred along the way and someone will have to pay for it.. Assessee did not attract the provisions of section 40(a)(ia) of the Act as reimbursement of expenses do not consist the income of the recipient and the payments are not governed by the provisions of section 194C of the Act. This philosophy has positioned Seahorse amongst the country's premier shipping agencies, with an enviable brand equity. Kindly guide us how to deduct the same from the commission and other charges taken by you. Required fields are marked *, Notice: It seems you have Javascript disabled in your Browser. Click Here. I, therefore, direct the AO to restrict the determination of tax deductable by way of TDS in respect of line charges to … If you are paying the contractor in cash, then you … TDS is not responsible for any customs and taxes applied to your order. Whether the Revenue was right in relying under section 194C, on the basis that that tax is to be deducted on ‘any sum’ paid for carrying out ‘any work’ and held that the tax should have been deducted on the gross amount paid by the appellant? Our network and understanding of these key trading and commercial centers means that we can provide world class services to our customers. If the yearly amount is less than Rs 1,00,000, then there is no need to deduct the TDS on Freight Charges, however, if this amount exceeds the given threshold, then the TDS should be deducted. Furnish GSTR-1 in time, or pay late fees, Webinar on Career Growth in GST related Litigation Management, Extend timelines for filings by LLPs: ICSI, Goods and Service Tax (GST) Registration & Requirements, Uttarakhand HC directs CBDT to consider representation on due date extension, All India Protest Call against GST/Income Tax Issues by WMTPA. Welcome to the world of Shipping - Its all about you! So, the line will charge the consignee DEMURRAGE for 4 days from 9th to 12th July at the rate fixed by the line.. After the full container has been picked up by the client, for example if they take another 7 days to return the empty container, then it is known as DETENTION which again will be charged at the rate fixed by the line.. AWARDS. ONE is the global container shipping company headquartered in Singapore and offering an extensive liner network service covering over 100 countries. for a contract exceeds Rs. According to Revenue, By not mentioning the service charge component in the bill does not mean that the BSS have not taken any profit. TDS SHIPPING L.L.C. All Rights Reserved. Is TDS applicable on Internet Leased line? TDS is not liable for any products damaged or lost during shipping. What are the due dates for filing quarterly TDS… Such charges are usually for agents' forwarding fees and incidental expenses paid out of pocket for account of the shipment by an agent or other carrier. As per Section 194C, the TDS is allowable on payments to … Your email address will not be published. To provide our valued customers and partners a tangible feel by personalized services while providing effective and efficient solutions to their shipping and logistics needs.CORE VALUES: Quality, Integrity, Reliability, Flexibility and Professionalism. TDS Shipping L.L.C has started liner services as carrier and NVOCC in Asia and Europe with regular and direct services to its valid customers in world wide.TDS has capacity of 8400 TEU containers. TDS provisions not applicable on internet leaseline charges u/s 194-I 194C or 194J of Income Tax Act as assessee only availed internet connection and was not using any asset, plant or machinery which involved payment of rent. When do I need to deposit the TDS after making the deductions? Our Mission. Gujarat Star Award for Best Shipping Agent of the Year 2013 Tds need not be deducted on the following category of expenses: Ocean Freight; Terminal Handling Charges; Demurrage Charges TDS Shipping L.L.C has started liner services as carrier and NVOCC in Asia and Europe with regular and direct services to its valid customers in world wide.TDS has capacity of 8400 TEU containers. not made by us but is deducted by you from the payment due to us. Adventure: Shipment of goods on shipper's own account. NR engaged in shipping business need not pay any advance tax & TDS. To know more about Section 194J like maximum exemption limit, etc. Whereas, for Balaji Shipping services through which shipments were concerned, no TDS was deducted as no service charge component was present. TDS Deduction from payments made to Non-Resident foreign shipping Companies: If the Payments are made to an agent of a Foreign(Non-Resident) Shipping Liner. Assessee while addressing before the learned CIT(A) argued that reimbursable expenses were separate from fees, that what constitutes fee shall be the consideration for the services rendered by the recipients but not the amount of reimbursement. Also, it was mentioned that GBR had included service charges and the tax have been deducted on it and amount paid to BSS was only the reimbursement of shipment charges and no service charges was paid. NVOCC Services from China, India,Turkey, Germany,Italy,Netherlands,Spain,France,Canada and United State of America to the ports of Jebel Ali,Also NVOCC services from all ports to Jebel Ali, Umm Qasr, Shuwaikh,Dammam,Manama, ,Sohar,Karachi, Mundra – Nhava Sheva – Cochin – Chennai-Kolkata-ICD Moradabad - ICD Tughlakabad - ICD Ludhiana - ICD Ahmedabad And vice versa. Dynamic Logistics Leadership & Visionary of the Decade . It is clear from the section that the area of operation of TDS is confined to payments made to any “resident”. As per provision TDS is required to be deducted if aggregate sum credited or paid during P.Y. Unit 704, 7Th Floor, Emirates Concorde Office Tower, Al Maktoum Deira Dubai UAE. The Hon’ble Tribunal agreeing to the contentions of the assessee held that regarding GBR, payments made to them were only towards reimbursement of shipment charges and therefore, no tax was deducted at source. Thus, there is no overlapping in the areas of … No. Section 172 specifically overrides whole of the income tax i.e. Join our newsletter to stay updated on Taxation and Corporate Law. TDS on NR is deducted u/s 195. We are required to deduct tax at source (TDS) on the payment of commission and other charges to amazon as required under the provisions of Income Tax Act, 1961. Whereas, for Balaji Shipping services through which shipments were concerned, no TDS was deducted as no service charge component was present. Section 194C deals with TDS on payment made to contractors & sub contractors. Posted 7 years, 4 months ago by CA Pulkit Sharma of deductee records in e-TDS/TCS return Upload charges (exclusive of GST) * GST as applicable; Returns having up to 100 records ₹42.37: Returns having 101 to 1000 records ₹178.00: Returns having more than 1000 records ₹578.50 * GST as applicable. In response of customer demand and to offer enhanced services in OOCL’s West Africa network, we are pleased to announce the introduction of a direct port call to … TDS should be decuted after applying the provision relating to TDS ON PROFESSIONAL SERVICES. . As payment of commission etc. Brief Facts: Assessee was in the business of exports, which were done through both air and sea. Seahorse, with a vision and ambition to be leaders in shipping and international transportation, operates within the frame work of integrity, commitment and compassion. Ltd., (formerly known as Cosco (India) Shipping Pvt Ltd.,) has been operating in India for around 25 years. It will not under contract ot Rent but Professional services. No it is not applicable on internet charges , The leaseline charges/internet charges paid were only for use of internet connection and do not fall within the provisions of section 194-I ,194-C and 194-J of the Act. As per section 194CTDS is to be deducted on Contractors at 1% in case of (Individual / HUF) and Single Contract at 2% on (Partnership / Companies)However, No TDS is to be deducted if annual expense is upto 100000 p.a. 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TDS on courier charges is required to be deducted under Section 194C of Income Tax Act 1961.. Rate and Amount for deduction of TDS. Before the Hon’ble Tribunal it was submitted that all amounts were paid before the end of the relevant accounting year and hence section 40(a)(ia) would not be applicable. The CIT(A) in its order held that there was nothing in the bills to show that the freight chargers were being reimbursed. (Torang Darya Shipping) TDS Line established in 2008; initially to provide customers forwarding services and could grow up rapidly by serving talented and dedicated professionals and become leader in shipping industry . ITAT Amritsar, in a recent judgment has held that shipping charges (Inland haulage charges, Terminal handling charges, Bunker adjustment factor, Cost adjustment factor, etc) using non-resident shipping are not liable to TDS u/s 172(8) as supplemented by CBDT Circular No. If the NR Shipping company having branch in India and servicing on behalf of them, do we need to deduct TDS if the country goes into DTAA with the other country. Damages/Lost Items. CIT(A) relying on CBDT circular and section 194C also held that the appellant was obliged to deduct tax on the entire payment made to the two shipping agents. All rights reserved. Copyright © TDS Shipping. On the other hand, section 172 operates in the area of computation of profits from shipping business of non-resi­dents. Our strength is our strategic positioning in the dynamic markets of the Middle East, China, India and Africa. Cosco runs its operations through the Head Office in Mumbai; whereas regional offices in strategic locations in New Delhi, Chennai, Kolkata, Cochin and Tuticorin ensure a continuous and close follow up with clients. . We are your full services providers. Ltd. In the result the appeal of the assessee was allowed by the Hon’ble Tribunal. If you are paying digitally, then the TDS should be deducted before making the payment. Whether TDS is applicable on 1 Terminal handling Charges 2 Inland Haulage charges 3 Bill of lading fees. The said line charges can be treated as rental for the line taken on lease and therefore deduction can possibly be made r-r/s.l94l rather than section 194J. Regarding air liting the goods were transported through GBR Freight Forwards Private Limited to whom reimbursement and service charges were paid and the TDS was deducted by Assessee on the basis of involvement of Service Charges. Our network and understanding of these key trading and commercial centers means that we can provide world class services to our customers. Advanced Charge: A charge paid by a carrier to an agent or to another carrier, which the delivering carrier then collects from the consignee. Regarding air liting the goods were transported through GBR Freight Forwards Private Limited to whom reimbursement and service charges were paid and the TDS was deducted by Assessee on the basis of involvement of Service Charges. To become the most preferred & reputed global shipping company with high employee satisfaction and delighted clients. Our strength is our strategic positioning in the dynamic markets of the Middle East, China, India and Africa. In order to submit a comment to this post, please write this code along with your comment: 04ff2e98a01a9c35b01d92d679fd47ca. Hence,in case of NR transporter, NO TDS will be deducted u/s 195. . Welcome to the world of Shipping - Its all about you! Choose the Suggest Item Charge Assignment action. Since the payment exceeds 30,000 TDS should be deducted. Further shipping charges are paid … 723/1995. Section 44BB is for calculation of income & S.172 is for recovery of tax. SEATRADE 'The Ship Agent Award - 2013 . Tel +971 43246987, Mob +971 564040177, Fax +971 04 328 8043 Cosco Shipping Lines (India) Pvt. Receipt Lines page, select the posted purchase receipt for the item that you want to assign the item charge to, and then choose the OK button. TDS on Clearing & Forwarding Agents Payment Aug 19, 2016 by CA Ankur Mehta in Uncategorized If anyone has any kind of Doubt Regarding TDS on Agency Service Charges (Charges of CHA Agents like Prime Forwarders, Unique Speditorer Pvt. If You Want to Get Called Back, Leave a Clear Phone Message, Tel +971 43246987, Mob +971 564040177, Fax +971 04 328 8043. 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