can i deposit tax of a person (contractot) without knowing his PAN no. as he dfoes not have a pan & i wanna save my expense from view of tax
13 Replies
Amir
(Learner)
(4016 Points)
Replied 09 January 2010
Dear Ankit,
On challan u don't have to mention the PAN of the deudctee so no issues in depositing..
Ya there may be a problem in filing return...
CA Ankit Bhutoria
(CA )
(372 Points)
Replied 09 January 2010
y will there be a prob in filing return 2 me??
Amir
(Learner)
(4016 Points)
Replied 09 January 2010
Dear ankit,
Now a days Department has made a rule that TDS reurns will not be accepted unless 90% (in Value of deductions) of deductees have PAN No.
CA Dhiraj Ramchandani
(CA, M. com)
(10823 Points)
Replied 09 January 2010
Hi ankit, its a huge system, the whole income tax department.....
While filing return, u need to submit the PAN of a person, against whomu deducted TAX.., so that he can get benefit of TDS..... So, i think there can be a problem....
Bimal Thacker
(Proprietor)
(762 Points)
Replied 09 January 2010
You can still file the return in case of PAN of less then 90% deductee. While filling the return you should give details of only of those deductee from whom you have received PAN. However in challan details(in return) full amount is to be mention. Whenever you received the details of deductee who has not given the PAN, you can correct the original return filled.
So deduct and deposit TDS of all the deductee (whether PAN or Not) and also fill return withinin due date whether you have PAN of 100% deductee or 10% deductee
Shiva Kumar
(CA Final)
(208 Points)
Replied 09 January 2010
PAN Is not a problem, but you need to deducted tax @ 20% or rate prescirbed in the Section whichever is higher, be careful.
Shiva
CA Saurabh Shukla
(Accounts Executive)
(223 Points)
Replied 09 January 2010
Mr. Shiva you are not correct.
The provision of 20% or, more TDS will be applicable from 1 Apr. 2010
CA SAURABH SHUKLA
manjeet
(Sr.Commercial Executive)
(33 Points)
Replied 09 January 2010
hi ankit
u can deposite tax without pan number. but at the time of filing return u should 85 % pan number for deductee other than salary.
Shruti
(CA Final)
(64 Points)
Replied 09 January 2010
| Originally posted by : Saurabh Shukla | ||
 |
Mr. Shiva you are not correct. The provision of 20% or, more TDS will be applicable from 1 Apr. 2010 CA SAURABH SHUKLA |
 |
Mr Saurabh Shukla, the provisions of 20% or more are APPLICABLE FROM 1ST OCTOBER 2009 and not 1st Apr 2010.
M.V.S.S.SURYA BHAGAVAN
(income tax practitioner)
(67 Points)
Replied 10 January 2010
The rate of TDS will be 20% in all cases, if PAN is not quoted by the deductee w.e.f 1-4-2010, however while depositing TDS amount , no PAN No is required but you need to furnish all PAN no of the deductee while filing Quarterly returns.
varun sharma
( CA Final , M.Com)
(87 Points)
Replied 10 January 2010
The provision of TDS 20% is applicable from April 1 , 2010 as per amended finance bill- 2 , 2009.
Archit
(student)
(54 Points)
Replied 10 January 2010
| Originally posted by : Shruti | ||
|
Originally posted by : Saurabh Shukla Mr. Shiva you are not correct. The provision of 20% or, more TDS will be applicable from 1 Apr. 2010 CA SAURABH SHUKLA Mr Saurabh Shukla, the provisions of 20% or more are APPLICABLE FROM 1ST OCTOBER 2009 and not 1st Apr 2010. |
|
the provision of 20% tds if no PAN given are applicable from 01.04.2010....it is clearly written in memorandum finance bill no.2...........so no need to confuse.........
Shiva Kumar
(CA Final)
(208 Points)
Replied 10 January 2010
This is Shiva here. Yup that rate of 20% is from 01.04.2010 only. It is not from 01.10.2009. I just warned to be careful, because the person who raised the query may just follow the same even after Mar 2010.
Mr.SAURABH is correct, but sir, i just wanted him to know this provision. I need to have mentioned the date. Sorry to miss out that
Shiva
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