Section 194c
This query is : Resolved
dhawal shah
(Querist)
08 October 2013
Is the limit of Rs. 30000/- and Rs. 75000/- applicable to a transporter who is not having PAN. As per WIRC Reference Manual 2012-2013 the same is not applicable, but many CA's are having a different view. Can somebody give a full proof answer for the same with backing of some case laws if any.
08 October 2013
Pan is mandatory for transporter to escape the limits of rs 30,000 and 75,000 resp, else 20% shall be the rate of tds in case of non holding of valid pan.
More details refer sec 194C it clearly states this.
More details refer sec 194C it clearly states this.
dhawal shah
(Querist)
08 October 2013
What if the transporter is holding PAN. Will the limits be still applicable to him. In my case, the transporter was not holding PAN but the total was less than Rs. 30000/- or Rs. 75000/-. I insisted that he will be liable for 20% TDS. But CA told that as the limit is less than the prescreibed limit he shall not be liable for 20% deduction.
08 October 2013
In case if he has a valid pan then no limits of rs 30,000/75,000 will apply.
CA Pallav Singhania
(Expert)
08 October 2013
Agree with Expert,
Exemption from 194C -
1.Individual /HUF personal Purpose :
No TDS to be done by an Individual or an HUF on a contractual payment of work which is for personal purposes of the individual or the HUF .
2.No TDS on Transporter :
No deduction is to be made for sum credited/paid to a contractor during the course of business of plying/hiring/leasing of good/carriages on furnishing Pan to the payer/ deductor .
Exemption from 194C -
1.Individual /HUF personal Purpose :
No TDS to be done by an Individual or an HUF on a contractual payment of work which is for personal purposes of the individual or the HUF .
2.No TDS on Transporter :
No deduction is to be made for sum credited/paid to a contractor during the course of business of plying/hiring/leasing of good/carriages on furnishing Pan to the payer/ deductor .
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