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tds above limit on transporter

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(Querist)
16 July 2010 dear experts
one transporter are bringing goods continuesly from apr-10 and his bilty amount for 3 months gone above 75000 Rs limit is there any need to deduct tds on rthe same, while he has PAN also.
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
16 July 2010 As per Section 194 of the Incoem tax Act, If receipient is a transport contractor and he or it furnishes his PAN to the deductor, tax is not deductible w.e.f. 1st October, 2009.
Deductor who makes payment to transporters without deducting TDS will be required to intimate the PAN details to Income Tax Department in prescribed format.

In your case, since the transporter has PAN you are not required to deduct TAX.
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
16 July 2010 Agreed with experts.
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Venkat Rao Marella

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Venkat Rao Marella (Expert)
16 July 2010 Perfect. Agree with Mr. Sunil Sanganeria.
Venkat.
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