27 November 2011
I am in a transport company, please help me on following query
I hired lorry from market i.e. from a broker (Company) and paid Advance to him against it upto Rs. 50000 in cash, The broker from whom truck is hired, he hired truck from any Individual truck owner. Now my question is about PAN that is, 1) Whose pan is required truck owner or broker? 2) What problem will arises if pan is not provided?
27 November 2011
From whom you are getting the Invoice?. directly from Transporter or Broker, both the parties need to provide PAN, both are covered under TDS sections.if they not provided need to deduct higher rate of 20% TDS
CAclubindia
