One of my client has transaction with a transporter who does not own any carriages. then is there any liability of TDS on them ??
If anybody have any knowledge on this, kindly reply .....
If the transporter does not own any vehicle then you need not to deduct TDS. However, you will have to take declaration from the transporter declaring that he does not have any vehicle.
As the wording of law is that " If a person is carrying on the business of plying, hiring and leasing of goods and he does not have more than 10 goods carriages then there is no requirement to deduct TDS. But what will happen if the trasporterdoes not own any carriage ????
(6) 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, 62[where such contractor owns ten or less goods carriages at any time during the previous year and furnishes a declaration to that effect along with] his Permanent Account Number, to the person paying or crediting such sum.