Regarding TDS liabilities
This query is : Resolved
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
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
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)
You may show him the relevant extracts (If he desires)
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