Tax deduction
MUKESH KUMAR CHOUDHARY (advocate) (69 Points)
22 May 2016MUKESH KUMAR CHOUDHARY (advocate) (69 Points)
22 May 2016
MUKESH KUMAR CHOUDHARY
(advocate)
(69 Points)
Replied 22 May 2016
pl answer on urgent basis and also note down SECTION if possibel.
Vikas Gupta
(Tax Executive)
(530 Points)
Replied 23 May 2016
TAN can be applied by all persons - individual/firm/company/AOP/BOI/Artificial juridical person. If 2nd party as you said is having and running its business on properietorship/HUF TDS u/s 194C (Contractor) is 1%. In any other case it is 2%.
CA who is signing in any letter which showns the status of the organisation as properietorship is writing 'partner' with his name only because the relevant CA is a partner of the auditor's firm. In other words the 2nd party's chief accountant/auditor is a firm and the relevant CA is a partner in that firm.
mohammad rasool baig
(Management Consultant)
(1026 Points)
Replied 25 May 2016
The second party had raised the bill & the bill is raised in proprietorship name or partnership name.
PAN needs to be obtained for the party who has raised the bill. So please check whether bill is raised by proprietorship firm or firm/AOP.....