Tds
This query is : Resolved
06 June 2013
Dear Expert. .
We have deducted TDS at the time of payment to the party say X co ltd.
Later we came to know that the deductee company is bogus company and it doesn't have PAN.
Here my problem is we have to remit the TDS to the govt,but with out PAN its not possible.
kindly help me, what to do now. . ?
Thanking you. .
We have deducted TDS at the time of payment to the party say X co ltd.
Later we came to know that the deductee company is bogus company and it doesn't have PAN.
Here my problem is we have to remit the TDS to the govt,but with out PAN its not possible.
kindly help me, what to do now. . ?
Thanking you. .
Ganeshbabu K
(Expert)
06 June 2013
TDS @ 20% IS APPLICABLE IF NO PAN IS AVAILABLE,
SO YOU NEED TO DEDUCT TDS @ 20% AND REMIT THE SAME TO IT DEPARTMENT
SO YOU NEED TO DEDUCT TDS @ 20% AND REMIT THE SAME TO IT DEPARTMENT
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CA Kapil Verma
(Expert)
06 June 2013
if you have deducted TDS @ less rate than 20% , then you need to pay from on your pocket, otherwise your expenses will disallowed.
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