Tds

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satya prasad (Querist)

30 August 2011 we have a contractor who does jobwork. The bill was raised in the name of his firms name and the payment is also made in the firms name. We have deducted TDS under the PAN of the firm and now the contractor who is the proprietor of the firm wants the TDS certificate in his own name and require us to revise the qrtly returns. My query is whether is it proper to deduct TDS with the proprieter's PAN instead of the Firms PAN.

CA Navin Jain

CA Navin Jain (Expert)

30 August 2011 if tds certificate is in the name of firm and pan no. is quoted at certificate of proprietor then there is no problem to claim the tds by proprietor

satya prasad

satya prasad (Querist)

30 August 2011 Thanks for your prompt reply. When the firm has no PAN in its name then it is a practice to deduct TDS under proprietor's PAN. But when a PAN of the firm is in existance is it proper to revise the return by changing the PAN in the return from Firms to the proprietor's.

MAHENDRA KUMAR BAGRECHA

MAHENDRA KUMAR BAGRECHA (Expert)

31 August 2011 Hi,

Based on the above discussion, i understand that there is a partnership firm and contractor is a partner. If this is the situation, then it is not advisable to deducted tds in contractor(partner's name) becoz bills are in the name of firm and payment has also made to firm.

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