01 February 2010
yes, exemption isgiven to a contractor having PAN and engaged in the business of plying, hiring & leasinggoods carriage.Goods carraiage as per Explanation given in Sec. 44AE means any motor vehicle as per clause 14 of Motor Vehicle Act. And in my opinion, Air craft does not cover under that defination. hence Ocean freightand/or air freight is liable for Tds under 194C.
CAclubindia
