Diffrent of contractor name and pan card no.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 April 2010 i have a contractor he have not pan card no. he give us another person pan card no. and tell us that use this pan no for tds purpose and payment made my name

i mean pan card holder and payment receiver name is diffrent
so can we doing this procedure contineu.
are this is valid according income tax purpose ?

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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17 April 2010 No , Pan card of that person whom who have payment made is to be taken for tds return. Otherwise it is violation of law.

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)
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17 April 2010 agree, its not proper

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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18 April 2010 AGREE. AS PER LAW IF YOU KNOWINGLY QUOTE A WRONG PAN PENALTY PROCEEDINGS CAN BE INITIATED AGAINST YOU.

CA Prashant Gupta

CA Prashant Gupta (Expert)
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18 April 2010 it lis ilegal and penalty Rs. 10000/-. Moreover after deposit tax the contractor can calim TDS amount from you because you didn't deposit it in him PAN. he can complain in Income Tax. Then you will be in trouble.

Pankaj Jhawar

Pankaj Jhawar (Expert)
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11 June 2010 Agree the above penal provisions will aplly further you should deduct TDS @20% as per Sec 206AA of the Act

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