No TDS on the bills of Transporters

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 August 2010 Effective 1.10.2010,TDs is not requied to be deducted in respect of payment of bills of transporters if the PAN details are available.

Is a separate database of transporters required to be maintained and information to be submitted to the Income Tax Department? How to cover this aspect in the eTDS Return?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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11 August 2010 No details is required to be given regarding this in your TDS return. Just keep the certified copy of PAN card of Transporters on which no TDS has been deducted.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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11 August 2010 No its not required. Details of these payment are not required in your Etds return.

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CA Sanat Pyne

CA Sanat Pyne (Expert)
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11 August 2010 It is necessary to track all such transactions as these will have to be reported to the income tax department.
The form and manner of reporting of such transactions is yet to be prescribed by CBDT.