TDS At Higher Rate
This query is : Resolved
06 January 2011
Hi,
Pls. guide me on the following
If we have deducted Tax at source (TDS) @20% (due to non availability of PAN) and deposited the same in bank and also filed the TDS return, then can we :
(a) issue TDS certificate to deductee
(b) later on if the deductee provides a PAN then can we revise the TDS return.
Regards
Milind
Pls. guide me on the following
If we have deducted Tax at source (TDS) @20% (due to non availability of PAN) and deposited the same in bank and also filed the TDS return, then can we :
(a) issue TDS certificate to deductee
(b) later on if the deductee provides a PAN then can we revise the TDS return.
Regards
Milind
07 January 2011
your creditor did not have pan and you deducted 20% TDS and remitted. Your question is after deducting tds if he provides pan number then, what is your stand.
You have rightly deducted tds and remitted. after you get his pan, no; need to revise return, you can adjust latter payments if you want.
You have rightly deducted tds and remitted. after you get his pan, no; need to revise return, you can adjust latter payments if you want.
08 January 2011
Simpaly issue TDS Certificate to him for 20% TDS if you have filed your return. He will claim refund at the time of filing return.
11 January 2011
(1) Yes You can Issue TDS CERTIFICATE to that Party
(2)Due to non availability of PAN, At the time of deduction of tax, you must have to deduct 20% TDS, & If later on he provides PAN
Than, after receiving you PAN, you can deduct the TAX accordingly..... & issue him TDS CERTIFICATE FOR 20% TDS + ACCORDINGLY RATE AS MAY BE PRESCRIBED
No need to revise RETURN.
(2)Due to non availability of PAN, At the time of deduction of tax, you must have to deduct 20% TDS, & If later on he provides PAN
Than, after receiving you PAN, you can deduct the TAX accordingly..... & issue him TDS CERTIFICATE FOR 20% TDS + ACCORDINGLY RATE AS MAY BE PRESCRIBED
No need to revise RETURN.
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