Tds on transportation
This query is : Resolved
23 May 2015
dear all ,
I hear about TDs on transportation in f.y.2015-16
pls tell about it in detail
CA Mehta Ankur N.
(Expert)
23 May 2015
If trasporter is filing his return under section 44AE i.e. if he is having less than 10 vehicle And he provide his PAN to contractor then only no TDS.
Else TDS Tobe done limit is same of 94-C
If not pan then 20%.
Else TDS Tobe done limit is same of 94-C
If not pan then 20%.
CA R SEETHARAMAN
(Expert)
23 May 2015
No deduction shall be made from any sum credited or paid during the previous year to the account of a contractor during the course of business of plying, hiring or leasing goods carriages, where such contractor owns ten or less than ten goods carriages at any time during the previous year and furnishes a declaration to that effect along with his (PAN), to the person paying or crediting such sum.
This amendment will take effect from 1st June, 2015.
This amendment will take effect from 1st June, 2015.
23 May 2015
• Relaxation from non deduction of TDS shall be allowed only to payment made to such transporters who are engaged in the business of transport and who is eligible to compute income as per 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 given a declaration to this effect along with his PAN.
• TDS has to be deducted in all other cases of payments made to transporters.
• TDS has to be deducted in all other cases of payments made to transporters.
25 May 2015
If the payment is made to contractor/sub
contractor in transport business, no TDS shall be deducted at source in the course of payment for plying, hiring or leasing goods carriages if the contractor provides PAN Number and such contractor owns ten or less goods carriage at any time during the previous year and furnishes a declaration to that effect.
contractor in transport business, no TDS shall be deducted at source in the course of payment for plying, hiring or leasing goods carriages if the contractor provides PAN Number and such contractor owns ten or less goods carriage at any time during the previous year and furnishes a declaration to that effect.
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