Please Help: TDS ON TRANSPORTER U/S 194C
Posted Date : 19-Jun-2015 , 02:06:18 pm | Posted By Aanand kumar karn
Dear Sir
I want to know that my company does not own any vehicle. So, according to section 194C can I claim exemption even if my income is not computing u/s 44AE.?? Is it necessary that vehicles have to be less than 10 and income have to be computed u/s 44AE.
I want to know that my company does not own any vehicle. So, according to section 194C can I claim exemption even if my income is not computing u/s 44AE.?? Is it necessary that vehicles have to be less than 10 and income have to be computed u/s 44AE.
Category : Income Tax | Answers : 1 | Comments : 1 | Hits : 576
Answers
Answer By: PRIYANKA
There is no correlation between section 194C(6) and section 44AE for the purpose of claiming exemption. For claiming exemption u/s 194C it is not necessary that ur income should be computed u/s 44AE. For claiming exemption under the amended law effective from 1st june 2015 the conditions required are:
1. Recipient should be in the business of plying/hiring/leasing of goods carriages.
2.does not own 10 or more then 10 goods carriages at any time during the financial year.
3.A declaration as required under the amended law along with the PAN no. is furnished to the deductor.
Earlier to 1st june this condition of not more than 10 goods carriages and furnishing of decalaration was not there.
1. Recipient should be in the business of plying/hiring/leasing of goods carriages.
2.does not own 10 or more then 10 goods carriages at any time during the financial year.
3.A declaration as required under the amended law along with the PAN no. is furnished to the deductor.
Earlier to 1st june this condition of not more than 10 goods carriages and furnishing of decalaration was not there.
Comments
Jarnail Singh
14-Jul-2015 , 11:34:55 amCan a Truck Operator Union submit declaration U/s 194C ???