Section 194C(6) has been amended with effect from 01-06-2015
to cover in its net large transporters owning more than ten trucks. To avail
exemption from TDS web, it requires furnishing of PAN and declaration by
contractor engaged in the business of plying, hiring or leasing of goods
carriages provided the contractor owns ten or lesser trucks at any time during
the year. In this article an attempt has been made to find an answer to
following questions:
1.
Who will be the contractor for the
purposes of section 194C(6)?
2.
Whether payment by C&F agent to
truck owners will be subject to TDS u/s 194C?
3.
Whether C&F agent will be covered
by presumptive taxation u/s 44AE?
4.
Whether truck owner/operator will
be covered by presumptive taxation u/s section 44AE?
5. Who will furnish its declaration and PAN for availing exemption u/s
194C(6) and whether C&F agent or truck owner is exigible to TDS ?
