TDS
This query is : Resolved
10 January 2010
How do we identify the status of a party whether its a Company or a Non Company asessee for the purpose of deduction of TDS? is there any specific criteria for identification in short time.?
Thanks & regards
Piyush
Thanks & regards
Piyush
10 January 2010
Dont u have a document based on which u do the accounting then that should reveal to you the status of the dedutee.in case of doubt ask the party.
10 January 2010
when your party raised the bill to claim payment then you have to ask about the status which it relates.and then you need to deduct the tds.
10 January 2010
agreed with experts.
10 January 2010
On the invoice itself the name of the party deicts the status.
10 January 2010
Based on party invoice
11 January 2010
I agree with the above expert.
However from PAN you can come to know the status of assessee.
suppose following PAN
AKBPT 1111 F here P is for personal/individual and T is surname start with letter T
AAACO 1111 K letter C is for Company assessee name of company will start from O
ABCFP 1111 D letter F is for Firm and name of firm will start from P
so In PAN 4 th letter I think is for the status of assessee and 5th letter is for name
However from PAN you can come to know the status of assessee.
suppose following PAN
AKBPT 1111 F here P is for personal/individual and T is surname start with letter T
AAACO 1111 K letter C is for Company assessee name of company will start from O
ABCFP 1111 D letter F is for Firm and name of firm will start from P
so In PAN 4 th letter I think is for the status of assessee and 5th letter is for name
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