Tds
This query is : Resolved
16 April 2012
Q 1 - At the time of TDS Deduction from party how will i identify that this party belongs to which category and which rate will apply ?
Party Means- TDS Rate ?
Company-
Firm -
Association -
Trust-
Society -
Local Authority -
NGO -
HUF -
Individual -
Thanks
Raju Kumar
Hajipur, Bihar
Party Means- TDS Rate ?
Company-
Firm -
Association -
Trust-
Society -
Local Authority -
NGO -
HUF -
Individual -
Thanks
Raju Kumar
Hajipur, Bihar
16 April 2012
hey read party name carefully ok IF company then end of party name should be PVT ltd.. or only ltd word mentioned okay .
if party is Individual then only party name mention okay
if firm then,,,, like raju kumar & co
if society then end of party name society word mentioned
if party is Individual then only party name mention okay
if firm then,,,, like raju kumar & co
if society then end of party name society word mentioned
Message likes :
1 times
16 April 2012
Dear you will have to obtain PAN to deduct TDS at specified rate otherwise if PAN not given you have to deduct TDS @ penal rate of 20%.
When you obtain PAN, from PAN itself you can know the type of deductee.
The fourth character of the PAN must be one of the following, depending on the type of assessee:
C — Company
P — Person
H — Hindu Undivided Family (HUF)
F — Firm
A — Association of Persons (AOP)
T — AOP (Trust)
B — Body of Individuals (BOI)
L — Local Authority
J — Artificial Juridical Person
G — Govt
HOPE YOUR PROBLEM IS SOLVED.
When you obtain PAN, from PAN itself you can know the type of deductee.
The fourth character of the PAN must be one of the following, depending on the type of assessee:
C — Company
P — Person
H — Hindu Undivided Family (HUF)
F — Firm
A — Association of Persons (AOP)
T — AOP (Trust)
B — Body of Individuals (BOI)
L — Local Authority
J — Artificial Juridical Person
G — Govt
HOPE YOUR PROBLEM IS SOLVED.
Message likes :
3 times
17 April 2012
YES MORE CLEAR BY ABOVE EXPERT..
ON BASIS OF PAN NO.ONE CAN IDENTIFY.IN PAN NO THERE IS MENTIONED.
IN NO PAN PROVIDED THEN TDS IS TO BE DEDUCTED 20%.
ON BASIS OF PAN NO.ONE CAN IDENTIFY.IN PAN NO THERE IS MENTIONED.
IN NO PAN PROVIDED THEN TDS IS TO BE DEDUCTED 20%.
17 April 2012
Agree with experts. The status of the Assessee is indicated in PAN allotted based on which u can find out the type of the person.
Message likes :
1 times
17 April 2012
Sanjay Gupta and other experts have given correct reply to your query and I agree with them
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- ITR returnFY25-26
- NRE Interest Income applicability
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Query regarding TDS on EPFO Higher Pension Arrears*
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
