TaxTMI 
TaxTMI 
New rule for 194C (Transport) - Urgent
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....ew rule for 194C (Transport) - Urgent<br> Query (Issue) Started By: - Mathurthi RamKumar Dated:- 10-8-2015 Income Tax<br>Income Tax<br>Dear Sir, Good Morning... I have a confusion about new circular about 194C (Transport). From 1st June it is mandatory for submission of declaration for "not having more than 10 vehicles" . Other wise 2% or 1% TDS will be deducted. Above wording very cle....
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....ar about big transports like TCI, BATCO. etc. But for following situation how to understand? Kindly advise. A) Outward freight - Company will bear freight amount and send manufactured product thru lorry to their customers. In this case 3 types of lorries will use. 1. Owner cum driver lorry 2. Only Driver 3. Contractor lorry (A to Z transporter is a contractor. He don't have own lorries and....
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.... he will arrange lorry by commission basis) But he will issue LR copy A to Z transport name. 1) Owner cum driver - It is clear to take declaration from him but if he do turnover more than 75,000/- (limit the cross) what we do? 2) Only Driver - Lorry registered with house wife or other name and her son / husband or relatives will drive. My doubt is sign on PAN card and sign on declaration is shou....
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....ld same is must or on behalf of signs will work? 3) Contractor lorry (Can we take declaration from contractor or driver?) . If contractor denied to give declaration what we do? Contractor give declaration but his turnover crossed limit. what we do? Thanks in advance. Regards M.RamKumar<br> Discussion Forum - Knowledge Sharing ....