What is the purpose of classification of Co. &Non. Co. Classification in TDS return.
Co. means corporates as per notification, should i include firm/AOP/BOI in Co. Classification as rates are similar for all & Ind/HUF as Non CO.
Please clarify.
Jyothis (Article) (1127 Points)
13 July 2015What is the purpose of classification of Co. &Non. Co. Classification in TDS return.
Co. means corporates as per notification, should i include firm/AOP/BOI in Co. Classification as rates are similar for all & Ind/HUF as Non CO.
Please clarify.
Rashi Bajaj
(CA)
(752 Points)
Replied 14 July 2015
Firm/AOP/BOI are non corporates. Classification is necessary for rate purpose.
Jyothis
(Article)
(1127 Points)
Replied 16 July 2015
However rates are same for Firm & Company.Is there any penality if we classify Firm/AOP/BOI as company & Ind/HUF as Non. Co.
Plz Reply
Jyothis
(Article)
(1127 Points)
Replied 27 July 2015
Plz any reply...How to correct if my classification of Company includes firm/AOP...& Non Company/Corporate as Individual&HUF.
From where can we get defintion of corporate & non corporate assessee.
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