TDS on Payments to Transporters- Amendment to Section 194C + Undertaking Format
Extract of Section 194C(6) of Income Tax Act, 1961–
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, [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.
Format of Declaration Under Section 194C(6) For Non – Deduction of Tax at Source (TDS) to be furnished by the Transporter wef 01.06.2015 i.e. NO TDS in case where such transporter owns ten or less goods carriages at any time during the previous year and furnishes a declaration to such effect, along with PAN.
Taunisha Consultancy Services
I, Name of vehicles owner, Proprietor/ Partner/ Director of M/s Name of the company or firm and address of the company, (hereinafter “The Contractor”) do hereby make the following declaration as required by sub section (6) of section 194C of the Income Tax, 1961 for receiving payments from the payer without deduction of tax deduction at source (TDS).
1. That name of party authorized to make this declaration in the capacity as proprietor/ partner/ Director.
2. That the contractor is engaged by the payer for hiring or leasing of goods carriage for its business.
3. That I have not own more than ten goods carriage vehicles as on date.
4. That if the number of goods carriages owned by the contractor exceeds ten at any time during the previous year 2017-18 (01-04-2017 to 31-03-2018), the contractor shall forthwith, in writing intimate the prater of this fact.
5. That the Income Tax permanent account number (PAN) of the contractor is …………………… A photocopy of the same is furnished to the payer along with this declaration.
I the above-named declarant do hereby verify that the contents of paragraphs one to five above are true to my own knowledge and belief and no part of it is false and noting material has been concealed in it.
Name of the Declarant