16 December 2013
Transporter is in India and holds a valid Income Tax Permanent Account Number. He is charging service tax at 12.36% on service rendered. Do we have to deduct Income tax at source?
No deduction shall be made from any sum credited or paid or likely to be credited or paid during the previous year to the account of a contractor during the course of business of plying, hiring or leasing goods carriages, on furnishing of his Permanent Account Number, to the person paying or crediting such sum. . . As per above provision nil TDS HOwever their details are required to provide in TDS return mandatorily . . find below article for more on this
CAclubindia
