suresh (accountS ) (158 Points)
26 March 2012There is one party who has deducted Tds in the year 2010-2011.and paid to govt in year 2010-2011 But not mentioned deductee (our) PAN NO on it . they issued TDS CERTIFICATED in the year f.y 2011-12 for f.y-2010-2011 (date mentioned on it fy 2010-2011)
my query is
1. do system accept TDS payment if deductee PAN not mentioned on it
2. if they revise TDS return in there books in fy-2010-11 can we take benefit in our books f.y.2011-2012
CA Saroj Kumar
(Keen to learn something new every moments)
(2588 Points)
Replied 26 March 2012
1.
while the time of TDS return we should have to must write PAN Number otherwise there will be error on file uploading. if u r not p[roviding PAN number there will be shortfall because in case of non production of PAN number we required to deduct TDS @ 20 % or rate applicable which ever is higher.
2.
Yes u can take benefit of Credit because falt has been done at the part of Deductor not on ur part.
Manmeet
(Accountant)
(21 Points)
Replied 28 March 2012
Please explain how the what are the ledgers created for the tds entries and how we can post the entries in the ledger account with example
CAclubindia
