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TDS on payments to Proprietorship Concerns

Others 3414 views 3 replies

I am running a proprietorship concern that was doing sales of goods. Now I have referred business to other exporters against commission. I issue bill in name of the proprietorship concern. If TDS limit is exceeded, is it sufficient to provide my PAN number as an individual. That is the same PAN as I use to fiole IT returns for business income from the proprietorship concern. However, the only problem that comes up is the PAN number is in my name and not the name of the proprietorship. Do I have to issue bill in my personal individual name only?

Is exemption of Rs.10.00 lakhs on service tax also available to the proprietorship concern. There is no branding of service. Just a simple classification of Business Auxiliary Service for the commission received.

Replies (3)

No problem !! you may Issue Bill

To  ,

   XYZ

___________________________________________________________________

 

                                                                                                                                  999999.00

----------------------------------------------------------------------------------------------------------------------

for , abc traders

Sunil

(Proprietor)

PAN- ___________

there is no problem in furnishing details to the deductor in your proprietorship firms name with your individual's PAN Number.

CA MAnish J. Agrawal

 

 YES THE LIMIT OF rS. 10 LACS IN SERVICE TAX IS ALSO APPLICABLE TO YOU.

YES THE LIMIT OF RS. 10 LACS IN SERVICE TAX IS ALSO APPLICABLE TO YOU.


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