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Regarding TDS liabilities

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This query is : Resolved

Rajesh V Mehta (Querist)

27 April 2011 Sir,
One of my clients is a transporter and if he recd. transportation more than Rs. 10 Lacs from a single company. My client have submitted his PAN copy to the company. However the company insists for TDS from his payment. As per my knowledge there is no TDS if the transporter is a PAN holder
Pl reply
Thanks

CA. Shushil Kumar

CA. Shushil Kumar (Expert)

27 April 2011 You are correct. As per amendments made in Sec 194C vide Finance Act 2009,"No deduction shall be made from any sum credited or paid ..................during the previous year to the account of contractor during the course of business of plying, hiring, or leasing goods carriages, on furnishing of his PAN, to person paying or crediting such sum".
You may show him the relevant extracts (If he desires)

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