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Income tax on truck owners

Pavan Kumar (Officer) (26 Points)

12 January 2012

Dear All

Here i have porblem regarding TDS on Transportation payment to the single truck owner. Who are giving services to us. following are the points listed below.

1. Is Transportation payment is exempted from Income Tax.

2. If it is exempted what are the documents shoulded be collected from the truck owner?

3. Is it mandotary to file the quaterly returens for transportation is PAN and Address is provided

4. What is the code for non dedcution of TDS for transportion while filing returens

Please suggest

Pavan

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1 Replies

Naresh Patel (C.A. Final) (144 Points)
Replied 12 January 2012

1. This que can be understood clearly, bcoz you are saying that payment is exempted, no it is taxable in the hands of truck owner, and the same shall be allowed as expenses only if copy of pan is provided. 2. You will have to collect the copy of pan card from him, otherwise the same shall be disallowed u/s.40(a)(ia). 3. Yes, you have to file the tds return even if you have been given the pan. 4. Code will be the 94c for the same... Rgds, naresh patel

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