The front of party who is done interior work for our office, we are given to them Rs.80,000/- by cheque but front party not ready for given to bill and pancard no.we are not deduct their tds payment time. now any suggetion for this? bill/pancards in important?
26 August 2009
The entire expenditure would be disallowed in absence of appropriate TDS not deducted on the same. Further even if the company agrees to bear TDS and give credit to the party by Grossing up (Backward Calculation) ETDS return will not upload without PAN. Pls note Bill PAn card copy is very important and you are liable to deduct TDS if Tax Audit is applicable for you / your company.
CAclubindia
