Dear Experts,
I just saw 26AS of one of our clients. There was TDS u/s 194C but the TDS amount was NIL.
Is it possible?
If yes please tell me the relevant provision.
Pawan Mittal (CA Final) (702 Points)
16 May 2013Dear Experts,
I just saw 26AS of one of our clients. There was TDS u/s 194C but the TDS amount was NIL.
Is it possible?
If yes please tell me the relevant provision.
Devendra
(Chartered Accountant)
(4775 Points)
Replied 16 May 2013
Yes, It is possible. The deductee must be a Transporter having a PAN Card.
As per the rules, no TDS is to be deducted on payments made to Transporter, if they have a PAN Card.
But while filing the quarterly E-TDS Return, the name of the Transporter and his PAN should be mentioned in the Return. And in the Amount colunm it should be 0.
Regards,
Devendra Kulkarni
PMA Nooruddin
(M.Com, Finance Manager)
(422 Points)
Replied 16 May 2013
Devendra Example is one scenario and other cases the return might be defective with the amount not mentioned in tax column etc
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