Penalty under Section 272B of the Income Tax Act
This query is : Resolved
02 June 2009
Dear Professionals
Pls help me in solving the following query on the provisions of Income Tax Act, 1961 (TDS related provisions)
Section 272B talks abt the Penalty for failure to comply with the Provisions of Section 139A of the said Act.
& according to Section 139A(5A) Every person who is receiving income from which tax has been deducted (i.e. TDS) is required to intimate his PAN number to the Deductor.
& under Sec139A(5B) every deductor is required to mention PAN of the deductee in various returns & payment to Department.
Noe the Query is :
Will the Company be in default if the deductee doesn not intimate or gives wrong PAN to the Company i.e. deductor?
Hw the Company file return if deductee doesnot intimate his PAN to the Company since mentioning of PAN number of deductee has been made mandatory?
Best Regards
CS.Deepika Bhardwaj
Pls help me in solving the following query on the provisions of Income Tax Act, 1961 (TDS related provisions)
Section 272B talks abt the Penalty for failure to comply with the Provisions of Section 139A of the said Act.
& according to Section 139A(5A) Every person who is receiving income from which tax has been deducted (i.e. TDS) is required to intimate his PAN number to the Deductor.
& under Sec139A(5B) every deductor is required to mention PAN of the deductee in various returns & payment to Department.
Noe the Query is :
Will the Company be in default if the deductee doesn not intimate or gives wrong PAN to the Company i.e. deductor?
Hw the Company file return if deductee doesnot intimate his PAN to the Company since mentioning of PAN number of deductee has been made mandatory?
Best Regards
CS.Deepika Bhardwaj
02 June 2009
1. Yes, Company is in default to mention wrong PAN number. As you are required to get photocopy of PAN number.
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02 June 2009
2. The best option is to stop the payment of deductee, they will give you PAN number immediately.
02 June 2009
Agree with CA. Tilak Raj Sharma
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02 June 2009
Hi Tilak & Gurdeep
Thanks for replying and solving the query
Best Regards
CS.Deepika Bhardwaj
Thanks for replying and solving the query
Best Regards
CS.Deepika Bhardwaj
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