If Mr A & Mr B have deposited F D in bank. Mr A is First holder & Mr. B is second holder.
Bank has credited 15000 interest on such F D.
Mr. A has not applied for PAN . & Mr B have a PAN . In this case , is PAN required or not of Mr A.
& on which name TDS certificate will be issued Mr A or Mr B?
Thanks
Hi, Pankaj,
Since Mr. A's name appear first in the form ,the Certificate will be given in the name of Mr. A & he has to apply for PAN else if its a cooperative bank then for acquire the shares to avoid Tax deduction.
Regards
Hi Pankaj,
I agree with the opinion of Mr Sanket......
Mr. A is required to apply for PAN and quote his PAN Number to Bank......... if he couldn't do so, then TDS will be deducted @ 20% of amount payable......... from 01.04.2010 onwards............
form 60 requirements have no significance left after ammendments inserted from 1/4/2010 .. mrA will have no choice other than filing his pan number otherwise tds will be deducted @ 20% flat rate
If the instruction were given to bank to issue TDS certificate in the name of Mr B, then bank may issue the certificate, with the PAN of second holder.. please rectify me if i am wrong.
CAclubindia
