As per sec.194IA, i have to deduct TDS @ 1%, but the deductee has no PAN, so my query is how to pay TDS Challana? I've duty to deduct & pay challana, but how to pay the same if deductee has no PAN?
17 November 2013
When the deductee does not have PAN, as per Section 206AA(1) TDS is to be deducted @ 20% . In the e-tds return you can specify as "No-PAN" against the reasons of higher or lower deduction column. .
18 November 2013
Mr. Nikhil is right. Thanks to Nikhil for correcting me. It was my mistake that I could not see the Section mentioned by the Author.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
20 November 2013
Dear Nikhil, Thanks for solving my query, but if the seller v is not willing to give his PAN, how can I discharge my dirty? Why should I be liable, for others mistake? This is happening to me practically in person. Pls resolve. . Regards. .
May be you can play hardball. Withhold 20% of the consideration and say that you have to deduct 20% TDS in case no PAN is provided (this is the truth too).
Alternatively, if you have his Date of Birth available, you can find his PAN on your own and pay taxes against the same!!!
Querist :
Anonymous
Querist :
Anonymous
(Querist)
21 November 2013
Dear Nikhil, Thanks a lot for your practical solution. I've one more doubt in Form 26QB, i.e., as it is Challana cum statement of return, how to file TDS Return u/s 194I, after paying the challana.?