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Person Responsible for Deducting Tax

Sanjay Govil (Student) (111 Points)

26 June 2008

In various TDS returns, we have to give details of the deductor of tax as well as the details of the person responsible for deducting the tax.

My question is, in case of a company which has deducted tax at source, what is to be stated in case of details of the person responsible for deducting the tax? The company itself? or an individual in the company? In case of individual, his personal address has to be given or his official address?

It is important to note that a company is also a person as per Income Tax Act.

Regards

Sanjay Govil

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4 Replies

CA Subin VR (Practicing CA) (450 Points)
Replied 26 June 2008

hi,

the dept. is asking for the name & designation of the individual responsible for deducting tax. see the example below:

a NBFC has many branches and a corporate office. Branches receive fixed deposits from public. here the Branch manager is the person responsible for deducting tax at sourse, in the case of interest on FD. He should provide his official address, not persanal.

in the same case, Finance manager (suppose who is in charge of paying salary) is responsible for deducting tax.

note specially that in no case, company itself will not be a person responsible for deducting tax, even if company is an individual in IT act