Can a partnership firm deduct tds?
This query is : Resolved
27 March 2014
Respected sirs/madams,
Can a registered partnership firm can deduct TDS on interest paid to a customer on his loans to the firm? There is no TAN no for the firm. But both firm and customer having PAN numbers. If deducted TDS, how can it deposit in government account and how can file TDS returns? Is the PAN number is sufficient for deducting TDS?
Regards,
BALU.
Can a registered partnership firm can deduct TDS on interest paid to a customer on his loans to the firm? There is no TAN no for the firm. But both firm and customer having PAN numbers. If deducted TDS, how can it deposit in government account and how can file TDS returns? Is the PAN number is sufficient for deducting TDS?
Regards,
BALU.
27 March 2014
For deducting TDS and filing TDS return you require a TAN no. So you need to apply for TAN.
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