06 January 2010
As per Income tax Act There is no deduction of TDS on Transporter which have PAN . But we have to submit a return for payment to transporter. Kindly suggest in which form we will submit it. whether it is submitted along with tds return or in tds return with the rate prescribed 0%.
Kindly clerify
regards
Rajeev Chawla mail id : rajeevchawla28@yahoo.co.in
07 January 2010
Yes, your are correct that Transporter who have provided PAN to a deductor, then in that case deductor is not liable to deducte Tax. However as such under the Income-tax Act, 1961 have not specified any FORM for this.
But you can collected the self-certified copy of PAN and if he taken the TDS waiver certificated from the Income-tax Act, 1961 you must collect from the same or Declaration saying no deduction of TDS from the services provided by the Transporter.
CAclubindia
