TDS Tax Percentage
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 February 2011
Dear Experts,
One of our Consultant is requesting us to deduct 20 % tax on his payment instead of 10% (194J) we are deducting on regular basis.
Can we deduct 20 % or 30 % tax from his payment. If yes then we are required to take any declaration from him to deduct more tax. Please educate us.
Thanks,
One of our Consultant is requesting us to deduct 20 % tax on his payment instead of 10% (194J) we are deducting on regular basis.
Can we deduct 20 % or 30 % tax from his payment. If yes then we are required to take any declaration from him to deduct more tax. Please educate us.
Thanks,
22 February 2011
If he has not submitted his PAN to you then > YES... TDS should be deducted 20 %.
But..if his PAN is available with you... In my opinion you should deduct only 10 % of TDS.
But..if his PAN is available with you... In my opinion you should deduct only 10 % of TDS.
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22 February 2011
There is no problem in deducting more tax but you should not deduct less tax.
If PAN provided rate is 10% otherwise 20%.
If we deduct more tax and deposit the same the deductee will get credit of the TDS. Act is silent on excess deduction of tax. I have seen more tax deducted and also deductee got the credit of the same.
If PAN provided rate is 10% otherwise 20%.
If we deduct more tax and deposit the same the deductee will get credit of the TDS. Act is silent on excess deduction of tax. I have seen more tax deducted and also deductee got the credit of the same.
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