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Q. > Please Help: WHETHER TDS IS APPLICABLE IF A CO DOESNOT OWN ANY VEHICLE BUT PROVIDING TRANSPORT FACILITY BY TAKING VEHICLE ON RENT?
Dear Sir, I have a doubt related to Section 194C. My company does not own any vehicles but we provide transportation service to others and Income is also not computed U/S 44AE. So, for claiming exemption from TDS is it necessary to fulfil both the conditions?
1 Answers
answered Jun 19, 2015 by PRIYANKA , GREATER NOIDA
This is answered in ur another same querry.
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Prashant
03-Dec-2016 , 04:13:27 pmNOTE:YOU HAVE NOT MENTIONED FINANCIYAL YEAR FOR WHICH YOU HAVE TO FILE TDS CLAIM. Your company geT commission in lieu of providing transport services to their customers.so you have to show your income as a commission income.There are no any need for fulfilment of conditions of section 44AE. if your company's total commission income is below Rs 25 Lakh in F.Y. 2015-16, you can file your ITR u/s 44Ad . if your company's income is above Rs 25 lakhs, you will be liable to maintain books of accounts u/s 44AA and Tax Audit u/s 44AB.