Facts of the query: This query is with regard to the TDS, where the Assessee is getting the error in E-TDS returns after validating from fvu. The error is Invalid Employee/Party PAN:Error Code: 4009. The issue us arsing because we have the party where we have no PAN of that party and secondly their exemption Limit does not cross the Threshold Exemption Limit as prescribed by IT Act.In this subject, Could you give your solutions where the circumstances is 1. Party have no PAN No. 2. The Threshhold Exemption limit does not cross. 3. if it is having No PAN and exmeption limit cross as per IT Act then directly 20% gets deducted
12 February 2013
it is to inform you that when the party has no PAN number and tDS deucted @ 20% then the deducted amount will not be claimed by the opposite party..
CAclubindia
