194c

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Rishi verma

Paid up assistant

26 Points Posted on 15 June 2015

Kindly intimate me about the query related to transporters

there comes a declaration on 1-06-2015 u/s 194c(6) for non dedution of tds

where it is prescibe dat no tds deducted where contracter NOT OWN more than 10 carriage as on date

now my query is that

is tds deducted on contractor who owns 9 trucks as on date but arranges from other person say,15 trucks in addition for goods carrying to the business of the payer??

kindly also define the word OWN

thanks in advance

Replies (3)

ARUL PRADEEP

ARTICLE ASSISSTANT

144 Points Posted on 15 June 2015

THE CONTRACT IS BETWEEN YOU AND THE FIRST PERSON WHO OWNS 9 TRUCKS....

YOU WILL MAKE PAYMENT TO HIM ONLY....SO NO TDS HAS TO BE DEDUCTED FOR THIS PAYMENT...

IT DOESNT MATTER WHETHER HE ARRANGES ANY OTHER PERSON TO DELIVER GOODS TO YOU OR NOT...

SUPARAS JAIN

Senior GM Accounts

26 Points Posted on 28 July 2015

Owning means, Benificial owner of any asset, if transporter own less than 10 Truck, and he confirms the same in writing (no formal format is notified), then TDS should not be done. If he arranges the Trucks from other parties, then also TDS not to be done.

Thanks & Regards

Suparas Jain

Santosh V. Thakur

Sr. Accountant

146 Points Posted on 31 July 2015

Owner of transporter means an assessee who is possession of goods carriages whether taken for hire purchase or taken on installment, shall deemed to be owner of such goods carriages.

1. If transporter having less than 10 vehicles whether owned or hire, gives declaration alongwith PAN Card copy, No need to deduct TDS.

2. But If transporter having more than 10 vehicles whether owned or hire, tds needs to be deducted.