If anyone's PAN is inoperative, while making any payment on which is liable to TDS, in this situation, should we consider threshold limit or not. E.g. Interest paid Rs.3000/- during the year which is below threshold limit but PAN is inoperative. In this case, should we deduct the TDS at higher rate, or not to deduct the TDS considering the threshold limit.
4 Replies
David
(article Assistant)
(1639 Points)
Replied 06 April 2024
TDS is applicable only it exceed threshold limit. if it exceed then deduct at higher rate
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 06 April 2024
I was reporting transporter details in tds return for a value of Rs. 10000. Transporter provided declaration hence tds was 0. But the tds return was processed stating shortfall of 20%. So practically, in case of pan inoperative, then deduct tds at 20% ignoring threshold limit.
sabyasachi mukherjee
(27597 Points)
Replied 07 April 2024
If any pan is inoperative, the pan must be submitted and a fresh pan must be applied for.
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 07 April 2024
| Originally posted by : sabyasachi mukherjee | ||
 |
If any pan is inoperative, the pan must be submitted and a fresh pan must be applied for. |  |
Request you sir not to misguide querists.
Recent Topics
- Upload of qualified audit report on MCA portal
- Form 26QB on multiple installment
- Is Offering Group Health Insurance Worth It for Sm
- Export of services documents
- AOC4 & CFS,STANDALONE separately
- Gratuity Trust for IT company
- Rule 86B on utilisation of ITC
- GST Notice U/S46
- Download of list of eWay bill of inward supply
- GST Registration & ITC Eligibility
Related Threads
Trending Online Classes
-
6 days Certification Course on GST Practical Return Filing Process
CA Pratibha Goyal16 December 2024
CAclubindia
