Is TDS exemption applicable for All Transporters or only for those covered under 44AE?
G.NARAYANAN (MANAGER(F&A)) (26 Points)
16 February 2010Is TDS exemption applicable for All Transporters or only for those covered under 44AE?
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 16 February 2010
Amol Gopal Kabra (CA,CS,DISA)
(Practicing CA)
(8539 Points)
Replied 16 February 2010
tapesh Kumar
(ARTICLE)
(46 Points)
Replied 16 February 2010
TDS shall not be deducted of the transporters provided that teh same quoted their pan with the company lible to deduct TDS.
G.NARAYANAN
(MANAGER(F&A))
(26 Points)
Replied 16 February 2010
| Originally posted by : Amol Gopal Kabra | ||
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only to those who quote their PAN number to the person who is liable to deduct tax. |
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The Transporter has provided PAN. But the turnover is in Crores. Is TDS exemption still applicable
Amol Gopal Kabra (CA,CS,DISA)
(Practicing CA)
(8539 Points)
Replied 16 February 2010
G.NARAYANAN
(MANAGER(F&A))
(26 Points)
Replied 16 February 2010
The doubt has arisen since finance act clearly states that tds exemption is available to transporters covered under 44AE and who provide PAN. There is no mention about 44AE in 194C. This appears to be contradictory.
Deepak Jain
(CA)
(69 Points)
Replied 17 February 2010
In the act definition of transporter is not given.
So in my view exemption for no deduction of tax should be given to big transporter only like TCIL
For small transporter deduct tax @ 1% or 2% ( Rate for individual and HUF 1% for others 2%) to avoid any complication at later stage
CA Sidhi Gaur
(Chartered Accountant)
(247 Points)
Replied 17 February 2010
Jatin Singh Negi
(Country Analyst )
(505 Points)
Replied 17 February 2010
SUNIL AGGARWAL
(PROPRIETOR)
(35 Points)
Replied 19 April 2011
Whether filing of declaration in form 15-I read with rule 29D of the I.T. Rules,1962 is still applicable after the insertion of Sub-section 6 and 7 of Section 194C (In case of Transporter) ?
Whether this sub-section 6 & 7 applies only in cases where the deductor obtains the PAN of the transport operators along with a declaration in form 15-I of the I.T.Rules,1962 from them before crediting or paying any sum to the transport operators. (Form 15-I is relevant to only those transport operators who are 'Individual' and 'who do not own more than two goods carriage' at any time during the year under consideration) ?
anubhav shetty
( )
(24 Points)
Replied 17 June 2011
is it neccesary that both the parties should be transporters for availing the exemption ?
eg- party A (transporter) hires vehecles from B(transporter) to provide services to C
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