TDS ON PAYMENT TO TRANSPORTER

Mr.Neeraj

Section 194C has been substituted with a new section 194C with effect from 1-10-2009 by Finance (No.2) Act.

Subsection (6) of new Section 194C reads as follows:

"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 duirng the course of business of playing, hiring or leasing goods carriages, on furnishing of his Permanent Account Number, tothe person paying or creding such sum"

 Hope that you have got clarification now.

Best Wishes

Sathikonda

THANK A LOT.

If there is any notification / Circular nos.

kindly provide .

thanks

The income tax act has been amended by the finance act 2009 by the above. So no notification will be available