TDS

This query is : Resolved

Renjith.R.s.

Renjith.R.s. (Querist)
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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.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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11 January 2011 even if the status is PAN applied..... Tax will be @ 20 %, No need to revise the tds return

CA ASHISH GUPTA

CA ASHISH GUPTA (Expert)
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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