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FORM NO. 15-I

CMA Abhay Kumar Sinha (Practicing Cost Accountant) (110 Points)

24 January 2010

Dear Friends,

I have received a form 15-I from one of our sub-contractor from whom we were deducting TDS earlier, but now after giving this form he is telling that from next month onward there should not be any TDS deduction from his account.

I know that there is such provision but I am not fully aware of that .Please guide me that what I have to do in this situation.

For ready reference I am attaching herewith the copy of the form received by us so that you people can check that whether he has done every thing properly or not.

Thanks,

Abhay Sinha

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2 Replies

Anumanchipalli Sathikonda (Tax Consultant) (1349 Points)
Replied 25 January 2010

Mr.Abhay Sinha

Now Section 194C has been replaced with a new Section 194C with effect from 1-10-2009. As per the provisions of sub-section (6) of the new Section 194C no tax is to be deducted at source on the sums paid or like to be paid or credited or likely to be credited to the account of a contractor during the course of busness of plying, hiring or leasing goods carriages, on furnishing of his Permanent Account Number to the person paying or crediting such sum.

Coming to Form No.15I

The person who receives Form No.15I has to file Forom No.15J with the Commissioner of Income-tax having jurisdiction over his case before 30th June following the following the financial year in respect of all the declarations in Form No.15I received by the person( contractor)during the financial year.

Best Wishes

Sathikonda