Ravi Ladia (Practising Chartered Accountant) (234 Points)
19 July 2015
Rajagopalakrishnan R
(PARTNER)
(1422 Points)
Replied 19 July 2015
If you provide transport services but own no vehilce, you are eligible to receive transport charges without TDS. You can submit the declaration as prescribed. TheTerm used in 194C(6) is "Own". So leased and hired vehicles even if more than10 will not count.
Ravi Ladia
(Practising Chartered Accountant)
(234 Points)
Replied 19 July 2015
The language used in a few places is Beneficial Owner. Does that not include Hired vehicles
Sakthivel. R
(Managing Director)
(31 Points)
Replied 19 July 2015
Sowmya.G
(CA)
(504 Points)
Replied 20 July 2015
Hi Ravi,
Your analysis is right. From the reading of
Explanation to section 44AE by the Finance (No. 2) Act, 2014, w.e.f. 1-4-2015 :
(a) the expression "goods carriage" shall have the meaning assigned to it in section 2 of the Motor Vehicles Act, 1988 (59 of 1988);
(b) an assessee, who is in possession of a goods carriage, whether taken on hire purchase or on instalments and for which the whole or part of the amount payable is still due, shall be deemed to be the owner of such goods carriage.]
Hence the goods carriages which are taken on lease/hire purchase/instalment, where the assessee is a beneficial owner will also have to be taken into account.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India