TDS

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$Anu* (Querist)
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07 January 2010 Plz tell me d latest amendment in section 194C(Payment to contractor/sub-contractor) of TDS, regarding plying, hiring & leasing goods carriage. My doubt-ARE ALL TRANSPORTERS EXEMPT AFTER THIS AMENDMENT OR ONLY THE ABOVE PARTICULAR KIND OF?

CA Vijay Kumar Gupta

CA Vijay Kumar Gupta (Expert)
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07 January 2010 All t of goods carriage ransporters are exempt from deduction of tax . as per the defination given in explanation to sub section 7( of sec. 44AE, goods carriage shall have the same meaningassigned as per sec. 2 of Motor Vehicle Act,1998.

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
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07 January 2010 Only those transporters are exempt who do not owned more than 2 goods carriage.

CA Vijay Kumar Gupta

CA Vijay Kumar Gupta (Expert)
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07 January 2010 Difference of opinion
Dear Mr. Sharma,
Please justify ?

$Anu*

$Anu* (Querist)
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08 January 2010 Actually I hav PCC May10 attempt and acc. to one of the amendment notes it is written that transporters are exempt u/s 194C for TDS. So my doubt is dat only goods carriage transporters OR public transporters as well.
(Plz tell me acc. to FINANCE ACT,2009)

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
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08 January 2010 Please read the amenment notification again.

As per amendment: All transporters are not expemt by the amendment. Only those transporter who does not own more than 2 goods carriage and they also need to gave a statement in wiriting that they does not own more than 2 goods carriage.

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
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08 January 2010 Only Goods carriage transporters, not the public transporter.

CA Vijay Kumar Gupta

CA Vijay Kumar Gupta (Expert)
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08 January 2010 Dear Mr. Sharma,
There is no limit on the no. of goods carriage vehicles owned by the person. Refer 194 (C) (6) of I. tax Act,1961

$Anu*

$Anu* (Querist)
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08 January 2010 Thanks! My doubt abt public transport got clear but I hav another doubt plz tell me whether d transporter can own any no. of vehicles or limit is upto 2 only (to get exemption).

$Anu*

$Anu* (Querist)
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08 January 2010 Thanks! I confirmed it from 194 (C) (6) of I. tax Act,1961, there is no such limit of 2 vehicles.

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