No TDS on the bills of Transporters
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 August 2010
Effective 1.10.2010,TDs is not requied to be deducted in respect of payment of bills of transporters if the PAN details are available.
Is a separate database of transporters required to be maintained and information to be submitted to the Income Tax Department? How to cover this aspect in the eTDS Return?
Is a separate database of transporters required to be maintained and information to be submitted to the Income Tax Department? How to cover this aspect in the eTDS Return?
11 August 2010
No details is required to be given regarding this in your TDS return. Just keep the certified copy of PAN card of Transporters on which no TDS has been deducted.
11 August 2010
No its not required. Details of these payment are not required in your Etds return.
11 August 2010
It is necessary to track all such transactions as these will have to be reported to the income tax department.
The form and manner of reporting of such transactions is yet to be prescribed by CBDT.
The form and manner of reporting of such transactions is yet to be prescribed by CBDT.
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