TDS
This query is : Resolved
Renjith.R.s.
(Querist)
11 January 2011
Last quarter ( Oct.10 to Dec.10) we deducted TDS from one party against consultation charges paid @ 10%, party applied for PAN. Suppose if we filed quarterly return by showings as PAN applied whether there is any need for revising TDS return once party submitted the PAN Number.
11 January 2011
even if the status is PAN applied..... Tax will be @ 20 %, No need to revise the tds return
CA ASHISH GUPTA
(Expert)
11 January 2011
In case of PAN Applied TDS is 20%, if you file quarterly return by showings as PAN applied, then credit will not be available to deductee. so you have to revise the return then only credit will be available to deductee
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