Tds
This query is : Open
12 December 2012
Dear Experts,
Kindly reply to the below mentioned query.
What is the remedy in the following situation to XYZ Pvt Ltd & to ABC Pvt Ltd.;
TDS deducted by M/s XYZ Pvt. Ltd. but was wrongly deposited with PAN/TAN of M/s ABC pvt. Ltd.
Kindly reply to the below mentioned query.
What is the remedy in the following situation to XYZ Pvt Ltd & to ABC Pvt Ltd.;
TDS deducted by M/s XYZ Pvt. Ltd. but was wrongly deposited with PAN/TAN of M/s ABC pvt. Ltd.
12 December 2012
M/s XYZ Pvt. Ltd. has to revise the tds retrun with the correct PAN.
12 December 2012
OK
but what about the credit?
I mean 26Q of ABC Pvt. Ltd shows the deposited amount.
Also form 16 will be issued by whome?
but what about the credit?
I mean 26Q of ABC Pvt. Ltd shows the deposited amount.
Also form 16 will be issued by whome?
12 December 2012
is this treatment correct?
XYZ pvt Ltd be required to pay TDS with his correct PAN/TAN &
ABC pvt. Ltd can claim refund?
XYZ pvt Ltd be required to pay TDS with his correct PAN/TAN &
ABC pvt. Ltd can claim refund?
12 December 2012
Kindly reply Sanket
12 December 2012
yes, As m/s Xyz pvt ltd has filed the return with wronh pan the credit goes in the wrong person. So company has to file the revise return with the correct pan. Therefore the dept. will transfer the credit to ABC company. and xyz ltd. has to issue form 16A in favour of ABC pvt. ltd.
03 January 2013
Hello Expert,
I've interpreted your explanation as follows:
Revise returns of XYZ pvt. ltd & ABc pvt ltd. both and give credit to correct person.
XYZ shall pay tds now
ABC shall adjust excess TDS paid against other liability of current period.
kindly guide me
I've interpreted your explanation as follows:
Revise returns of XYZ pvt. ltd & ABc pvt ltd. both and give credit to correct person.
XYZ shall pay tds now
ABC shall adjust excess TDS paid against other liability of current period.
kindly guide me
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