Section 194 ia

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 March 2014 Dear Sir/ Madam
Whether it is neccesary to have TAN no.for deducting TDS when giving payment to builder above 5000000.If not so then what is the procedure for deducting TDS in that case???
And is it neccesary to filed return of TDS???

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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21 March 2014 1. Holding TAN is NOT mandatory for deducting TDS u/s 194-IA.

2. Filing TDS return is NOT mandatory for TDS deducted u/s 194-IA.

3. You have to deposit the TDS and give a copy of the challan to the deductee.

Querist : Anonymous

Querist : Anonymous (Querist)

21 March 2014 Thanks sir
but Sir without TAN can we proceed towards payment of TDS because while generating Challan 281 TAN is neccesary in routine case.Whether there is another procedure for payment or with reference to PAN we may proceeds ????? Plz advice me Sir.and thnks agaian..

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CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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21 March 2014 1. You have to use Form 26Qb and NOT 281.

2. Only PAN is required. TAN is NOT required.

Querist : Anonymous

Querist : Anonymous (Querist)

22 March 2014 thanks sir i will check out.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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10 April 2014 You are welcome. You should use the thanks button to convey your thanks.