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of <h1>Finance Bill 2015 amends Section 194C, easing tax compliance for small transport contractors with 10 or fewer carriages.</h1> Clause 43 of the Finance Bill, 2015 amends section 194C of the Income-tax Act, effective from June 1, 2015. The amendment specifies that no tax deduction at source is required for payments to contractors engaged in the business of plying, hiring, or leasing goods carriages, provided the contractor owns ten or fewer goods carriages during the previous year. The contractor must furnish a declaration to this effect along with their Permanent Account Number to the payer. This change aims to simplify tax compliance for small-scale transport contractors.
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