Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: form 3cd :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: due date for vat payment :: VAT RATES :: VAT Audit :: Central Excise rule to resale the machines to a new company :: cpt :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: TDS :: TAX RATES - GOODS TAXABLE @ 4%
 
 
« Latest Circulars »
  Auction for Sale (Re-issue) of Government of India Floating Rate Bonds 2024
 Auction of Government of India Dated Securities August 21, 2017
 RBI to conduct 7 day Variable rate Reverse Repo auctions under LAF on August 21, 2017
 Resolution of Stressed Assets: Towards the Endgame (Urjit R. Patel, Governor - August 19, 2017 - Inaugural Session of the “National Conference on Insolvency and Bankruptcy: Changing Paradigm”, Mumbai)
 Eligible Credit Rating Agencies- Rating of Fixed Deposits by Infomerics Valuation and Rating Private Limited (IVRPL)
  Appointment of nominated counsel in the Hon’ble High Court of Delhi at New Delhi- Compliance of the Order dated 21.07.2017
 RBI-Core Banking Solution (CBS) Requirements for Urban Co-operative Banks (UCBs)
 RBI-Interest Subvention Scheme for Short Term Crop Loans during the year 2017-18
 Appointment of nominated counsel in the Hon’ble High Court of Delhi at New Delhi- Compliance of the Order dated 21.07.2017
 RBI releases Data on India’s International Trade in Services: June 2017
 RBI-Reserve Bank Commercial Paper Directions, 2017

Consignee to issue TDS certificate to truck operators-Clarification by CBDT
July, 03rd 2006

Note : Last Alert was No 129 dated 26-6-2006
 
Alert -1- Tax Deduction at Source - Issue of TDS Certificate under section 203 of the Income-tax Act - Cases of Truck/Goods-carriage Operators - CIRCULAR NO 6/2006 Dated 23-6-2006

As per the provisions of section 203 of the Income-tax Act, read with rule 31 of Income-tax Rules, every person deducting tax in accordance with the provisions of the Act shall, within a period of one month from the end of the month during which the tax was deducted, furnish to the person from whose income/payment the tax has been deducted, a certificate to the effect that tax has been deducted, specifying the amount so deducted, the rate at which the tax has been deducted and such other particulars as have been prescribed.

2. However, representations have been received that in the case of the road-transporters, where tax is deducted under section 194C from the payment being made to the truck-operator on delivery of the goods by the consignee, the certificate is either not being issued by the consignee within the prescribed time or the certificate is being issued in favour of the consignor of the goods at the place of the truck-operator. As a result of such irregularities, the truck-operator is not able to claim credit for the tax deducted from the payments received by him.

3. In consideration of the above and the trade-practice prevailing in the road-transport industry, where the truck or such other goods carriages is booked by the consignor but the payment is made by the consignee on delivery of the goods, the Board hereby reiterates the provisions of section 203, as mentioned above, and advises the consignee to issue TDS certificate in the cases of the truck/goods-carriage operators within the prescribed time and in favour of such truck/goods-carriage operators.

4. It may be clarified in this regard that in case of any failure in timely issue of certificate or in case of issue of certificate in favour of any person other than the person from whose payment tax has been deducted at source, the provisions of section 272A(2)(g) shall be attracted, under which, penalty of one hundred rupees for every day during which the failure continues is leviable.

[F. No. 275/74/2005-IT(B)]

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions