Hi Friends,
Sec 44AE of Income Tax Act,1961 applies to those assessees who own less than 10 goods cariages at any time during the year and engaged in the business of plying , hiring or leasing of such goods carriages.
If the assessee(Mr.X) has 4 goods carriages and give those goods carriages on rent to other person(Mr.Y).That other person(Mr.Y) uses these goods carriages for the puprose of goods transport by road(GTA Service Provider).
Can we apply the provision of Sec 44AE to both Mr. X and Mr.Y?
Assume that the rent recceived by Mr.X fro Mr Y more than 10 lacs.Under which service Mr.X has to register himself for the purpose of Service Tax?
Should we consider Mr X be considered as Transporter?Whether Mr.Y is liable to deduct the tax at source u/s 194C on assumption that Mr.Y is covered by the provisions of Sec 44AB evethoght Mr. X provide his PAN?
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