Our Client is partnership firm. it has taken loan from Sundaram Finance Limited. During the year 2013-14 it has paid interest on machinery loan of Rs 1024000/- approx. to Sundaram. They had applied for TAN no on 9th october 2014 but TAN no has not been alloted yet. In the TAN status, it is showing a message from 30/10/2014 that "your application has been forwarded to income tax department" Without TAN it is not possible to deposit TDS and without deposit of tds total Rs 1024000 interest will be disallowed. What to do in this situation ?
Tan no not allotted by income tax department
Somnath Sharma (Practicing Chartered Accountant) (81 Points)
14 November 2014
CAclubindia
