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deduction of TDS

manoj (student) (93 Points)

12 September 2007

Can any person not having TAN deduct TDS. if no, what will be the consequence if he deduct

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11 Replies

(Guest)

No that person cannot deduct TDS , if he deduct than that person is liable for fine

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shah pradip (ca) (34 Points)
Replied 13 September 2007

I think at the first instance if you are liable to deduct tax at source U should deduct the same as duty cast upon by law and allpy for TAn and deposit immediately upon TAN been granted, which should otherwise will be granted by dept in resonable time so as to enable deposit of TDS in time

dinesh bhandary (Manager- Finance & corporate a) (82 Points)
Replied 13 September 2007

dear , u can apply for tan and then depoist the tax with interest.please look whether in future do you have tds dedcuton liability. you can get tan no with in 7-10 days.

(Guest)

this is a very useful site for interacting with the fellow proffesionals and to share view & simlarly to put forward good topics, i am very happy to be a part of this regards

(Guest)

it is not possible to pay the deducted tax to the department through bank without tan number, as it is made online, incase the bank receives the same, it will go to suspense account and will be difficult to the payee to take account for the same

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Rsn Associates (31 Points)
Replied 13 September 2007

Liable for penalty under the Laws. R S Nambi

(Guest)

Yes, one can deduct the TDS and simultaneously should apply for TAN No. and upon receiving the TAN No. , he/it must deposit the TDS.

(Guest)

Yes, one can deduct the TDS and simultaneously should apply for TAN No. and upon receiving the TAN No. , he/it must deposit the TDS.

Atul Agarwal (Business) (22 Points)
Replied 05 September 2008

I have taken personal loan from banks and other private institutions, should i have to deduct TDS on interest that i am paying? if yes ? at what rate ? if No ? is there any circular / provision from Government ? if yes where can i get it? please reply soon

CA NITESH GUPTA (PRACTICE) (145 Points)
Replied 01 November 2008

I have taken Home Loan from Citi banks and other private institutions, should i have to deduct TDS on interest that i am paying? I have self propritority firm and my turnover moue than 40 lacs. if yes ? at what rate ? if No ? is there any circular / provision from Government ? if yes where can i get it? please reply soon

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(Guest)

Originally posted by :Guest
"	Our partnership firm has taken loan against property from Citi banks and other private institutions, should i have to deduct TDS on interest that i am paying? I have self propritority firm and my turnover moue than 40 lacs. if yes ? at what rate ? if No ? is there any circular / provision from Government ? if yes where can i get it? please reply soon	"