tds

This query is : Resolved

CA Anurag Shukla (Querist)
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31 July 2010 I WANT TO ASK THAT IF A TRANSPORTER FURNISHES HIS PAN NO. TO THE CONCERNED COMPANY IN WHICH HIS HEAVY GOOD VEHICLE HAS BEEN ATTACHED WITH A CONTRACT.
BUT THE AFTER THE AMMENDMENT MADE UNDER SEC 194C OF THE IT ACT W.E.F. 1.10.09 SO I WANT TO ASK THAT IS THERE ANY CONDITION U/S 44AE THAT THE TRANSPORTER SHOULD BE FILING HIS RETURN UNDER SEC 44AE.
BUT I THINK THAT THERE IS NO SUCH CONDITION IN THE ACT BUT THE CONCERNED COMPANY IS DEDUCTING THE TDS INSTEAD OF THE AMMENDMENT.
PLEASE PROVIDE THE GUIDANCE AS SOON AS POSSIBLE.
ANURAG SHUKLA

Shyam Lal Naik

Shyam Lal Naik (Expert)
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31 July 2010 As correctly stated by you, so far deductor is concerned, he is not required to ascertain, whether the transporter is filing return or not.

However, on furnishing of the PAN, the deductor is not required to deduct TDS. The deduction on the part of the company is contrary to statutory provisions.