TDS u/s 194C - Transportation

Manish (Accountant) (250 Points)

18 June 2010  

TDS u/s 194C not to be deducted on Payment to Transport Operator who has submitted their PAN to the payee.  The Person responsible for paying such sum to the Transport Operator without deducted TDS required to be submitted to the Income Tax Authority, such particulars, in such form and within such time as may be prescribed. Extract of the Section 194C is as under :

Section 194C

(6) 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 during the course of business of plying, hiring or leasing goods carriages, on furnishing of his Permanent Account Number, to the person paying or crediting such sum.

(7) The person responsible for paying or crediting any sum to the person referred to in sub-section (6) shall furnish, to the prescribed income-tax authority or the person authorised by it, such particulars, in such form and within such time as may be prescribed.

I want to know, in which Form and which time limit, this detail is to be submittetd.