194c

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student (Querist)

14 May 2011 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.

whether payment for loading/unloading will also be covered under this clause.

194C(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

which form required to be submitted by the payer...
pls answer urgently

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)

14 May 2011 If the transporter gives a composite bill of loading and unloading, then the same shall be considered for exemption.
The details are to be submitted in the TDS return itself.

student

student (Querist)

15 May 2011 But sir where it is mentioned in the act regarding composite bill or other...is there any circular relating to transporters.......

& if no tds will be deducted on such payments then why tds return

Amol Gopal Kabra (CA,CS,DISA)

Amol Gopal Kabra (CA,CS,DISA) (Expert)

16 May 2011 There is no where mentioned in the Act that if there is composite bill, then no TDS. Its pure logic.

Second thing, why TDS Return?
The reason is that transport payment is TDS eligible and not TDS exempt. The only thing is that the rate of TDS is 0%. So, it is mandatory to file return.

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