Tds on transporter

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atul (Querist)
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30 August 2011 Dear Sir
Would like to know if pan number is in the name of individual who is give transport billd can we allow tds exemption i.e a proprietor ship concern

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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30 August 2011 need to be checked with TDS exemption certificate also having the same PAN

Message likes : 1 times

atul

atul (Querist)
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31 August 2011 Dear Ramesh
First would like to thank you for taking time to reply to my query, sir but i would further like to know if for Transport exemption cetificate is a must becuse As per the amended section 194C, through Finance Act (2) of 2009, No deduction shall be made from any payments made to a contractor during the course of business of plying, hiring or leasing goods carriages, on furnishing of his PAN to the deductor.

This new subsection 6 of 194-C makes such transport contractor to compulsorily provide PAN to the Deductor, failing to which TDS will be made by Deductor as per 194C. Here there is not mention of exemption Certificate

Hence my query was if pan number is in the name of individual who is give transport bills can we allow tds exemption i.e proprietor ship concern

regards
atul

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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31 August 2011 tds exemption for transport is mentioned in the act amendment, so for that not necessary for get exemption from transporter. get the PAN and comply the conditions provided in 194C

atul

atul (Querist)
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31 August 2011 Dear Ramesh
would again like to thank you for taking time to reply to my query, lastly would like to know if this transport is a proprietor ship concern then too we can exemption based on his indivdual pan number from TDS.

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