Itr is to be filed in proprietor pan or prop. firm pan ?
This query is : Resolved
30 June 2012
Hello everyone,
Mr. X is proprietor of M/s.X & co. Mr. X two pan cards one of himself and other one of m/s. x & co.
in the p.y. 11-12 Tax has been deducted at source in the name of M/s. X & co. and firms Pan no.
Now Mr. X wants to get the TDS refund. How should his return of income will be filed whether in his personal PAN or proprietorship pan ?
waiting for your reply .
Mr. X is proprietor of M/s.X & co. Mr. X two pan cards one of himself and other one of m/s. x & co.
in the p.y. 11-12 Tax has been deducted at source in the name of M/s. X & co. and firms Pan no.
Now Mr. X wants to get the TDS refund. How should his return of income will be filed whether in his personal PAN or proprietorship pan ?
waiting for your reply .
01 July 2012
FIRST OF ALL THERE IS NO REQUIREMENT OF SEPERATE PAN FOR DOING THE PROPRIETORSHIP BUSINESS. IT IS ILLEGAL TO KEEP TWO PANS AND HENCE YOU NEED TO SURRENDER THE PAN OF X & CO AS RETURN OF PROPRITORSHIP FIRM IS TO BE FILLED ON PERSONAL PAN ONLY.
NOW IN ORDER TO GET REFUND OF TDS, YOU NEED TO ASK YOUR DEDUCTOR TO FILE REVISE RETURN OF TDS BY QUOTING YOUR PERSONAL PAN SO THAT YOU CAN GET TAX CREDIT.
NOW IN ORDER TO GET REFUND OF TDS, YOU NEED TO ASK YOUR DEDUCTOR TO FILE REVISE RETURN OF TDS BY QUOTING YOUR PERSONAL PAN SO THAT YOU CAN GET TAX CREDIT.
Message likes :
2 times
02 July 2012
Mr. Abhishek, holding TWO PAN is ilegal. Pls ask Mr. X to surrender PAN in the name of X & Co.
The proprietor himself have to file return under his personal PAN. As TDS deducted under PAN of X & Co., Mr. X has to request the deductor to revise their TDS return for all the quarters where tax has been deducted and replace the PAN by the PAN of Mr. X. Otherwise he can not get credit of the TDS already deducted.
The proprietor himself have to file return under his personal PAN. As TDS deducted under PAN of X & Co., Mr. X has to request the deductor to revise their TDS return for all the quarters where tax has been deducted and replace the PAN by the PAN of Mr. X. Otherwise he can not get credit of the TDS already deducted.
Message likes :
1 times
02 July 2012
Mr. Abhishek, holding TWO PAN is ilegal. Pls ask Mr. X to surrender PAN in the name of X & Co.
The proprietor himself have to file return under his personal PAN. As TDS deducted under PAN of X & Co., Mr. X has to request the deductor to revise their TDS return for all the quarters where tax has been deducted and replace the PAN by the PAN of Mr. X. Otherwise he can not get credit of the TDS already deducted.
The proprietor himself have to file return under his personal PAN. As TDS deducted under PAN of X & Co., Mr. X has to request the deductor to revise their TDS return for all the quarters where tax has been deducted and replace the PAN by the PAN of Mr. X. Otherwise he can not get credit of the TDS already deducted.
Message likes :
2 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR validation error - Balance sheet is not filled
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
