29 December 2011
Dear sir My client have pan card as xxx entertainment service LLP while filing return its displaying on website as xxx entertainment service pvt.ltd. he have tds credit of 350000. someone give him suggestion for applying new pan card rather than correction. he applied for new pan card, and this new pan card given to all vendor for deducting tds. what should i give suggestion regd. this pls tell me.... can he claim he tds of 350000.
29 December 2011
holding two PAN for same assessee is an offence, you will be liable to penalise.
Now solution to your problem,
1. Firstly tell you vendor who have deucted Rs. 3.5L tds to file revise return & submit the same to income with your new pan. Then that credit will now transfer to your new PAN account.
2. Replace your old PAN from all the authorities database eg. sales tax, excise, service tax etc.
3. Finally surrender old PAN to income tax.
here is the URL for surrending the duplicate PAN http://incometax.sparshindia.com/pan/newPAN.asp
CAclubindia
