I have a vendor who is having Proprietorship firm and also has PAN No. in his own name. He wants the payment in his own name as he don't have bank account in his firm's name. Can we give the cheque to him in his personal name after deducting TDS.
02 July 2011
Proprietorship is not different than individual. Tax is related to PAN and an individual can earn money through proprietorship or on his own name, both are taxable in the same PAN no. So you can make payment to him after deducting TDS on his own PAN.
CAclubindia
