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Reg. Recent amendments in section 194C(6) of Inc. Tax Act w.e.f Jun-2015

former_member330379
Participant
0 Kudos

Dear Experts ,

Is there any patch released by SAP regarding recent amendments in section 194C(6) for transport(freight) vendor which will be effective from 01-jun-2015

as currently all residence transporters (irrespective of their size) are claiming exemption from TDS under section 194C(6) on furnishing of PAN to person

responsible for making payment .

Now this provision has been amended (with effect from 01-jun-2015) to expressly provide that the relaxation under section 194C(6) from non deduction of tax shall only be applicable to the payment in the nature of transport charges (whether paid by a person engaged in the business of transport or otherwise)

made to a contractor who satisfies the following 3 conditions :

1. Recipient engaged in the business of transport.

2. Recipients owns 10 or less goods carriages at any time during the financial year .

3. Recipients furnishes a declaration to this effect along with PAN.

kindly let me know .

it's urgent

Regards ,

shailesh

1 ACCEPTED SOLUTION

m_madhu
Active Contributor
0 Kudos

HI

please refer the below note

2154831 - FIWTIN_QRETURNS: Legal change for transport vendor

regards

Madhu M

4 REPLIES 4

former_member198650
Active Contributor
0 Kudos

Hi Shailesh,

You have to get declaration from the transporters for non deduct tax. If they fail to submit the same, then deduct TDS as per prescribed rate.

Regards,

Mukthar

m_madhu
Active Contributor
0 Kudos

HI

please refer the below note

2154831 - FIWTIN_QRETURNS: Legal change for transport vendor

regards

Madhu M

0 Kudos

Hi Madhu ,

I have downloaded the suggested Note , in which SAP is mentioning one document name as "Transport_vendor_configuration.pdf" .

how can i get the above document .

Kindly let me know

regards

shailesh