04 May 2015
Dear Sir, I have to inform you that I belong to a Transport Company to which currently TDS is not applicable subject to production of PAN & according to Finance bill,2015 TDS on transportation services will be applicable w.e.f.01.06.2015 that too in case, transporter exceeds 10 vehicles.
Now one of our party has deducted TDS against our transportation bill saying that they will deduct tds w.e.f.01.04.2015 itself.
04 May 2015
Yes it is against the provisions of section 194C of the Income Tax Act. But not a problem the deducted tax can be adjusted against the tax payable.
CAclubindia
