94j
This query is : Resolved
12 December 2014
Sir, We have paid two bills to the party on Apr, May 2010 for Rs.30052/- & Rs.144910/- and deducted TDS of 10.3% for the said amount. Now, we received a notice from IT Dept, in which they quoted that 20% to be deducted from the party. Is it corect ?
PLEASE HELP
CMA Ramesh Krishnan
(Expert)
12 December 2014
Incase your deductee not having PAN number then 20% rate will apply. so check the PAN valid of the deductee
12 December 2014
Please check whether PAN quoted by you is valid or not. If the PAN is bot valid then department will raise demand calculated @20%. So you nullify the demand by revising your return and quoting correct PAN
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