TDS ON PAYMENT TO TRANSPORTER

neeraj (Assistant accounts manager) (68 Points)

19 January 2010

Dear Friends,

Can anybody provide the notification / Circular regarding non deduction of TDS when payment to transporter with valid PAN ?????

Thanks in advance

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3 Replies

SathikondaA (Tax Consultant) (1346 Points)
Replied 19 January 2010

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