15 October 2009
Whether NIL TDS benefit is available to all assessee who have to pay freight to transporter (contractor)on furnishing of PAN>for eg a trader who used to deduct tds from freight paid to contractor(transport) is now exempted if the contractor furnish PAN ?
15 October 2009
Please also note this most important point here..... Deductor should furnish a separate return containing the details of Transport Contractors, who have provided PAN and TDS has not been made in accordance to subsection 6 of 194C. CBDT would be prescribing the format for such return and the methodology to file such return shortly. However it is expected to be one time activity for the Deductor to furnish these details after 31/03/2009, containing the information of all 6 Months.
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