IS TEXT NEEDS TO BE CORRECTED ?

This query is : Resolved

CA. SUNIL KUMAR (Querist)
Follow

21 July 2009 Dear Sir,

With due regard to the wisdom of concerned persons, I have one suggestion on the TEXT of Sub-Section (6) of Section 60 of the Finance (No.2) Bill, 2009, which deals with the TDS provisions u/s 194C concerning the persons in the business of plying, hiring or leasing goods carriages (for convenience say Transporters).

The present text of said sub-section suggests that the Transporters are not required to deduct TDS. For ready reference the present Text is reporduced :-

"No deduction shall be made from any sum credited or paid or likely to be credited or paid during the previous year to the account of a contractor during the course of business of plying, hiring or leasing goods carriages , ........."

The present language suggests that Transporters have been taken as Deductors; whereas the intent of the legislation might have been that no TDS would be deducted from the payments made to contractors being Transporters.

In my opinion, the TEXT may be modified as under :

"No deduction shall be made from any sum credited or paid or likely to be credited or paid during the previous year to the account of a contractor engaged in the business of plying, hiring or leasing goods carriages , ........."

Thankx and Regards

CA. Sunil Kumar

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
Follow

21 July 2009 I have not gone through in so deep, but if it is like this, then I completely agree with you sir.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

R M Shekhaliya

Amit Goyal

SHRI HARIRAO

Frank

Pushkar Nagda

Subscribe Now

IS TEXT NEEDS TO BE CORRECTED ?

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

CA Final

Accountant

GST CONSULTANT

Senior Executive

Manager- Finance and Compliance