With due regard to the wisdom of concerned persons, I have one suggestion on the TEXT of Sub-Section (6) of Section 60 of the Finance (No.2) Bill, 2009, which deals with the TDS provisions u/s 194C concerning the persons in the business of plying, hiring or leasing goods carriages (for convenience say Transporters).
The present text of said sub-section suggests that the Transporters are not required to deduct TDS. For ready reference the present Text is reporduced :-
"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 , ........."
The present language suggests that Transporters have been taken as Deductors; whereas the intent of the legislation might have been that no TDS would be deducted from the payments made to contractors being Transporters.
In my opinion, the TEXT may be modified as under :
"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 engaged in the business of plying, hiring or leasing goods carriages , ........."
CAclubindia
