Tds on transporter
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 June 2015
dear sir
please explain the TDS on transporter bill deducted amendment from 01 june 2015
please explain the TDS on transporter bill deducted amendment from 01 june 2015
08 June 2015
https://taxguru.in/income-tax/tds-payments-transporters-amendment-section-194c-wef-june-1-2015-undertaking-format.html
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09 June 2015
Payments to transporters attract Section 194C. Earlier if transporter provided their PAN, TDS was not required to be deducted.
Now there is an amendment in 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 is applicable from June 1, 2015.
Now there is an amendment in 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 is applicable from June 1, 2015.
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 June 2015
thanks sir
my query is solve
my query is solve
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