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T.D.S Querry

BHAGYESH RAVANGE (C.A Job) (1528 Points)

29 August 2009

My Question is :

Our Firm wants to claim refund from the I.TO for the A.Y 2008-09 which was done through e-filing, but the PAN No. which the deducter has shown in the T.D.S certificate is of the one of the Partner in the Firm, so usually Firm can't claim the refund on the basis of T.D.S certificate. The I.T.O wants that us to get the revised T.D.S certificate from the deducter, which the company is refusing to give as it is for the A.Y 2007-08 which would be difficult for the company also. So tell me what to do under such situation.

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18 Replies

Sorabh Gupta (Manager ( Taxation )) (877 Points)
Replied 29 August 2009

BHAGYESH

Firstly you will check that whether comapny who dedcuts TDS , deposit the same in the account of which PAN no. . You can check this thru QUARTERLY STATEMENT deposited by the company. aND IF your relation is good enought to people working in that comapny then you can take the copy of QTRY STATEMENT along with the details in which it is clearly mentioned that in whose credit TDS is deposited.May be on that basis you can claim the refunf OR on that basis you can pressurize the comapny to REVISED the TDS certificate...................

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santhosh (CA) (636 Points)
Replied 29 August 2009

Try To Catch some insider in the Income Tax office TDS Circle and fund him.He will finish the job (This is Practical Solution)

Alternative Meet a Lawyer/CA who has good rapport with ITO's so that they can help

BHAGYESH RAVANGE (C.A Job) (1528 Points)
Replied 29 August 2009

Sorabh, I have verified the same it is deposited.

RITESH KOTHARI (B.COM, FCA, DISA(ICAI)) (778 Points)
Replied 29 August 2009

IT IS DEPOSITED IN WHOSE NAME?

IN THE NAME OF PARTNER OR IN THE NAME OF FIRM?

RITESH KOTHARI (B.COM, FCA, DISA(ICAI)) (778 Points)
Replied 29 August 2009

IF IT IS DEPOSITED IN FIRM'S NAME THEN NO PROBLEM YOU CAN CLAIM TDS BY SHOWING THAT TO ITO.

IF IT IS IN PARTNER'S NAME THEN TEH PARTNER HAVE TO CLAIM THAT IN HIS PERSONAL RETURN.

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Sorabh Gupta (Manager ( Taxation )) (877 Points)
Replied 29 August 2009

Yes Bhagyesh

Ritesh is correct. If it is in the partner name then you have no option..........

BHAGYESH RAVANGE (C.A Job) (1528 Points)
Replied 29 August 2009

It is deposited in the name of the partner. I know that there is no option but the refund amount is in lacs.

(Guest)

Checek who's PAN was quoted by Deductor while doing E-Filing. If it is partner's PAN then firm can't claim it. Deductor has to file revise return and issue new TDS certificate.

If Firm PAN is quoted and Partner name is mentioned then just ask the deductor to change the name in TDS certificate and issue new one. PAN is the track and not the name.

(Guest)

Checek who's PAN was quoted by Deductor while doing E-Filing. If it is partner's PAN then firm can't claim it. Deductor has to file revise return and issue new TDS certificate.

If Firm PAN is quoted and Partner name is mentioned then just ask the deductor to change the name in TDS certificate and issue new one. PAN is the track and not the name.

BHAGYESH RAVANGE (C.A Job) (1528 Points)
Replied 29 August 2009

Pan No. is of the Partner and the name is of the Firm.

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RITESH KOTHARI (B.COM, FCA, DISA(ICAI)) (778 Points)
Replied 29 August 2009

THEN THE PARTNER HAVE TO CLAIM IT.

purnima (accounts manager) (59 Points)
Replied 29 August 2009

I have paid tds @ 10.3% on professinal charges but failed to pay surcharge on the same. What are the consequences. Matter urgent can some body answer this. PY 2008-09

RITESH KOTHARI (B.COM, FCA, DISA(ICAI)) (778 Points)
Replied 29 August 2009

DEAR PURNIMA,

WHETHER SURCHARGE IS APPLICABLE ON DEDUCTEE OR NOT?

Juzer Sadikot (CA - innovative solutions for Imports and Exports) (1309 Points)
Replied 29 August 2009

Originally posted by :RITESH KOTHARI
"	THEN THE PARTNER HAVE TO CLAIM IT.	"

Dear Ritesh Sir,

Can you explain me how to present it while filing ROI.

Say for example partner is having Total Income of 10,00,000 and its own TDS of Rs. 25,000/-, what shall be impact of the concern TDS of Firm deposited in the name of Partner on the Total Income and TDS of Partner.

Thanks in Advance