Live Course on Drafting of Appeal and Reply of Penalty Notice by CA Sachin Sinha. Register Now!!

Tds deduction

Vishal (Article Asst.) (95 Points)

01 July 2014

Hey guys is it right not to deduct TDS just bcoz contractor is not having PAN number & depositing back deducted TDS to the credit of contractor ?

Reply
Follow
Share

3 Replies

(Guest)

No, it is not right. If payments are above the limits of tax deductions, then you must deduct tax. 20%, if PAN is not available. In that case, he (contractor) will not be able to get refund or credit of that tax.

Tribhuvan Aditya Singh (Student as well as Self-employed) (3710 Points)
Replied 01 July 2014

it is not correct to refund the tds amount. you should deduct tds @ 20% on such payment.

Vishal (Article Asst.) (95 Points)
Replied 02 July 2014

Thanks a lot guys for your reply but on whose account that amount do we need to deposit ? As the person whose TDS we are deducting is not having PAN ? So ...........