TDS
This query is : Resolved
YADAV SANTOSH
(Querist)
16 March 2011
Dear Experts,
XYZ Co. Ltd has a contract of service with Mr. A for the value Rs. 1 Lac.
Work is undertaken and contract is completed.
However at the time of making the payment, Rs 1 Lac is received partly from Mr. A , Mr. B & Mr. C and they have also issued a TDS Certificate for the respective amounts.
(Mr. B & Mr. C were not involved and were not a participants in the contract agreement but had interest in the contract and hence made the payment)
My query is can XYZ Co. Ltd claim such TDS from Mr B & Mr. C. against which in his books he doesn't have any sale to Mr B & Mr. C as the Sales Invoice was raised on Mr. A.
Kindly Suggest!
Thank You.
XYZ Co. Ltd has a contract of service with Mr. A for the value Rs. 1 Lac.
Work is undertaken and contract is completed.
However at the time of making the payment, Rs 1 Lac is received partly from Mr. A , Mr. B & Mr. C and they have also issued a TDS Certificate for the respective amounts.
(Mr. B & Mr. C were not involved and were not a participants in the contract agreement but had interest in the contract and hence made the payment)
My query is can XYZ Co. Ltd claim such TDS from Mr B & Mr. C. against which in his books he doesn't have any sale to Mr B & Mr. C as the Sales Invoice was raised on Mr. A.
Kindly Suggest!
Thank You.
Susil Kumar Mishra
(Expert)
17 March 2011
No, how it is possible. If XYZ Co. is not showing any income from Mr B. & C how the co. can claim the TDS. XyZ co. can claim the Mr. A's TDS only.
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