For tds deposit ? to distinguish between psu & govt. co.

TDS 600 views 2 replies

e-TDS + IT return filer Hyderabad

731 Points Joined February 2013

As the Govt. deductors has to deposit on the same day , and others by 7th of the following month

I want to know how to distinguish PSU and Govt. co.

For example banks are considered PSUs and the companies like NMDC, National Textiles are considered Govt.

I want the legal provisions to convince myself as well as my clients .

(here 1 may note some govt. offices pay through book adjustment some companies through challan)

Replies (2)

FCA Future CA

4935 Points Joined March 2010

The organisations which are directly controlled by government, through ministries and departments are Government. for eg: ONGC, OIL, CIL, NLC...

the definition is

"617. DEFINITION OF "GOVERNMENT COMPANY"

For the purposes of this Act, Government company means any company in which not less than fifty-one per cent of

the paid-up share capital is held by the Central Government, or by any State Government or Governments, or partly

by the Central Government and partly by one or more State Governments and includes a company which is a

subsidiary of a Government company as thus defined."

e-TDS + IT return filer Hyderabad

731 Points Joined February 2013

Thank you.

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