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ca shiv shanker kanojiya (Querist)
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03 May 2015 plz solve a confusion that if a transporter inter into an agreement with a PSU for transportation of certain things which is not included in exemption list for a year ..whether the such psu is liable to deduct tds while making payment to such transporter if such transporter is propritership concern. the agreement is for whole year..

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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03 May 2015 It is proposed to amend the provisions of section 194C of the Act to expressly provide that the relaxation from non-deduction of tax shall only be applicable to the payment in the nature of transport charges (whether paid by a person engaged in the business of transport or otherwise) made to an contractor who is engaged in the business of transport i.e. plying, hiring or leasing goods carriage and who is eligible to compute income as per the provisions of section 44AE of the Act (i.e. a person who is not owning more than 10 goods carriage at any time during the previous year) and who has also furnished a declaration to this effect along with his PAN.

This amendment will take effect from June 1, 2015.

Prior to this TDS not required to be deducted from transporter if PAN is provided by them.

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