03 October 2009
hello friends, As per the amendments in the provisions governing the TDS provisions an assessee is not required to deduct TDS on Transportation Exps. if the Transportor furnishes PAN.
My query is has CBDT prescribed any standard form which we should get fill up from the transportor ??
10 October 2009
Dear Murtaza, Mr. Finance Minister has amended the provisions relating to the TDS. According to the amendments a specified person is required to dedudt TDS on payment or credit the expenses.
in case of payment to Transporters TDS provision u/s 194C come in to play. according to this if transporter furnishes PAN then nothing to be deducted on account of TDS. for the purpose of furnishing PAN in a controlled manner Mr. FM said to prescribed a standard form..............which I asked for?
Well this was the amendment in brief relating to the query i raised. Do you require any other details, please specify.
CAclubindia
