During the period from 1st April 2008 to 31st MArch 2009 I have paid about 8.00 Lacs amount as a freight on raw material purchase to singal party and no tds has been deducted.
During whole period raw material was came by this two truck only and paid freight 8.00 Lacs but I have not deducted any TDS on this freight amount.
Tell me what should I do for saving disallowance of such freight amount?
08 September 2009
CHECK OUT IF YOU CAN COVER YOUR CASE IN THE FOLLOWING PROVISO TO SECTION 194C
Provided further that no deduction shall be made under sub-section (2), from the amount of any sum credited or paid or likely to be credited or paid during the previous year to the account of the sub-contractor during the course of business of plying, hiring or leasing goods carriages, on production of a declaration to the person concerned paying or crediting such sum, in the prescribed form and verified in the prescribed manner and within such time as may be prescribed, if such sub-contractor is an individual who has not owned more than two goods carriages at any time during the previous year:
Provided also that the person responsible for paying any sum as aforesaid to the sub-contractor referred to in the second proviso shall furnish to the prescribed income-tax authority or the person authorised by it such particulars as may be prescribed in such form and within such time as may be prescribed; or
CAclubindia
