TDS
This query is : Resolved
18 September 2010
Hi
One of the company has multiple offices and has seperate TAN Number for each office. The company has suppliers rendering services to each office seperately. Each office of the company considers the supplier differently and deduct TDS on Invoices accordingly. As a result, if the supplier renders service for four offices for Rs.15K each none of the offices deduct TDS as it is not crossed single invoice limit of Rs.20K and does not consider the cumulative total amount. Is it acceptable practice as per the Income Tax Act Provisions relating Tax Deduction at Source? Kindly Advice.
One of the company has multiple offices and has seperate TAN Number for each office. The company has suppliers rendering services to each office seperately. Each office of the company considers the supplier differently and deduct TDS on Invoices accordingly. As a result, if the supplier renders service for four offices for Rs.15K each none of the offices deduct TDS as it is not crossed single invoice limit of Rs.20K and does not consider the cumulative total amount. Is it acceptable practice as per the Income Tax Act Provisions relating Tax Deduction at Source? Kindly Advice.
18 September 2010
The TDS section applies on the company as a whole irrespective of multiple branches.
You hav to deduct TDS on these bills 7 keep a track on these kind of invoices by regular month processing.
Regards
P
You hav to deduct TDS on these bills 7 keep a track on these kind of invoices by regular month processing.
Regards
P
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18 September 2010
As per your question you have Seprate TAN number for each office, but PAN is only one for all the offices, when you will submit the IT Return you will show all the vendor at one place, then it will create problem in future and not acceptable practice as per IT Act.
Wait for other reply.
Wait for other reply.
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22 September 2010
Having different TAN for each branch no problem, but expenses booking each places aggregate exceeds the thereshold limit, TDS need to deduct for that party
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