Tds return

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Sir, I am an Accountant, I am working in Registered Society which deals in Financial Activities like Micro Financing and Strengthen the livelihood of financially backward class. So my fellow colleagues are much experienced then me I am just 9days old in this Organization. They are saying we can deduct TDS for a Firm in an Individual PAN Number. Means can deduct 2% in Section 194(C) in the name of Firm-holders PAN number and file return in that PAN No. Firm didn't provide us PAN no. of their ORG. that is another topic but we have a argument on "we can depot 2%, but we cannot file return 2% on that Individual PAN no." My Point. They are saying can depot and file the return fully. Please response.
Replies (1)

If a person not having PAN no., when that person is liabile for TDS deduction, then TDS @ 20% to be deducted for that organisation

if you deduct 2% an file the TDS return with individual PAN no., it is an offence and will have legal disputes for such act and also liabile for penalty.


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