Tds on freight
This query is : Resolved
10 August 2011
Can anyone tell me whether TDS on freight has been abolished and why ?
Can anyone tell me whether TDS on freight has been abolished and why ?
10 August 2011
There is an exemption in section 194C(6) of the IT Act,1961 which is reproduced below.
No deduction shall be made from any sum paid or credited or likely to be credited or paid during the previous year to the account of the contractor during the course of business of plying, hiring or leasing of goods carriages, on furnishing of his Permanent Account Number, to the person paying or crediting such sum.
No deduction shall be made from any sum paid or credited or likely to be credited or paid during the previous year to the account of the contractor during the course of business of plying, hiring or leasing of goods carriages, on furnishing of his Permanent Account Number, to the person paying or crediting such sum.
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