tds on transporter
This query is : Resolved
CA DINESH SHARMA
(Querist)
15 December 2010
Dear sir, I would like to know what format has been prescribed for transporter who has not deducted TDS from small transporter who has submitted the PAN.Pliz specifty.
Aditya Maheshwari
(Expert)
15 December 2010
in form 26Q
(6) No deduction shall be made from any sum credited or paid or likely to be 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, on furnishing of his Permanent Account Number, to the person paying or crediting such sum.
(7) The person responsible for paying or crediting any sum to the person referred to in subsection (6) shall furnish, to the prescribed income-tax authority or the person authorised by it, such particulars, in such form and within such time as may be prescribed.
In terms of sub section (7), now such transactions are to be reported in regular eTDS statement.
All such deductions to transport contractors where tax has not been deducted are to be marked “T” in the column Reason for Non-deduction / Lower Deduction, if any in the deductee details
(6) No deduction shall be made from any sum credited or paid or likely to be 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, on furnishing of his Permanent Account Number, to the person paying or crediting such sum.
(7) The person responsible for paying or crediting any sum to the person referred to in subsection (6) shall furnish, to the prescribed income-tax authority or the person authorised by it, such particulars, in such form and within such time as may be prescribed.
In terms of sub section (7), now such transactions are to be reported in regular eTDS statement.
All such deductions to transport contractors where tax has not been deducted are to be marked “T” in the column Reason for Non-deduction / Lower Deduction, if any in the deductee details
Praveen Sharma
(Expert)
16 December 2010
agree with Aditya.
CA DINESH SHARMA
(Querist)
25 December 2010
What if the deductor has no other tds to be deducted and tds to be paid, In such case whether he has to obtain TAN and file nil return with details of pan of transporter or not? please suggest.
Aditya Maheshwari
(Expert)
25 December 2010
I dont think there would be any such person who does not have TAN and making payment to transporter. However in a particuar quarter there could be no deduction where u have to file a nil return in think.
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