Tds
This query is : Open
23 November 2011
suppose i paid Rs.100000/- to contractor deducted Tds @2% (contractor is firm) , but contractor did'nt mentioned it's PAN, so while calcualting my business income , whether my whole expense will be disallowed or will i get proportionate deduction according to deduction to TDS?
23 November 2011
As per provisions of income tax act 1961 , in case of non mention of PAN the deductee has to deduct tax @20% from the payment held , but in your case u will get full deduction of expenses.
23 November 2011
Yes, Agree
24 November 2011
are you both really confirmed with your answers. i have paid this amount to a decorator,now what is your answer?
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