tds
This query is : Resolved
28 August 2010
Is there any ruling to the effect that tds will not be deducted if transporter gives a copy of his pan card wef from 01.10.2010.
28 August 2010
Yes section 194C has been amended.
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28 August 2010
If the recipient is a transport operator ( one who is in the business of plying, hiring or leasing goods carriages) and he furnishes his pan to the payer, TDS rate is nil with effect from oct 1,2009. IF pan is not furnished, then tax will be deductible at the rate 1% ( If ind/huf) or 2% ( if other person) during oct 1,2009 and march 2010 and at the rate of 20% from april 1,2010 onwards
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