When transporter submit the PAN no than there is no liability to deduct tax.But we have to submit the information relating to transport contractors to Income Tax dept in specified format.Kindly tel me what is the format and the mode in which we have to give the information.
7 Replies
Shyam Lal Naik
(Service)
(6156 Points)
Replied 19 May 2010
The form and manner of intimation is yet to be notified.
Naresh
(Audit Executive)
(57 Points)
Replied 19 May 2010
In case of pan no. is not provided by the transporter at what rate is the assessee is liable to deduct TDS Thanks in advance.
Deepak Tapse
(Accounts Manager - Taxation)
(1771 Points)
Replied 19 May 2010
20% in case of PAN not furnished.
Till data there is format specified by ITD for transporter's information.
garima
(accounts head)
(30 Points)
Replied 20 May 2010
Thats wht i want to know..the format and the mode.Please tell.
CA. Gurdeep Singh Chawla
(C A)
(7080 Points)
Replied 20 May 2010
no instructions/notification issed by the department.
Somaas Kandan
(CA Final)
(385 Points)
Replied 20 May 2010
20% to be deducted, if PAN not quoted by the transporter. Assessee has to collect PAN no. and submit whenever IT Officers required it.
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