TDS

Save Share

This query is : Resolved

Piyush Newar (Querist)

10 January 2010 How do we identify the status of a party whether its a Company or a Non Company asessee for the purpose of deduction of TDS? is there any specific criteria for identification in short time.?

Thanks & regards

Piyush

M Prabhakar Menon

M Prabhakar Menon (Expert)

10 January 2010 Dont u have a document based on which u do the accounting then that should reveal to you the status of the dedutee.in case of doubt ask the party.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)

10 January 2010 when your party raised the bill to claim payment then you have to ask about the status which it relates.and then you need to deduct the tds.

ANIL JANGID

ANIL JANGID (Expert)

10 January 2010 agreed with experts.

Rahul

Rahul (Expert)

10 January 2010 On the invoice itself the name of the party deicts the status.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

10 January 2010 Based on party invoice

Bimal Thacker

Bimal Thacker (Expert)

11 January 2010 I agree with the above expert.
However from PAN you can come to know the status of assessee.
suppose following PAN
AKBPT 1111 F here P is for personal/individual and T is surname start with letter T
AAACO 1111 K letter C is for Company assessee name of company will start from O
ABCFP 1111 D letter F is for Firm and name of firm will start from P
so In PAN 4 th letter I think is for the status of assessee and 5th letter is for name

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now