TDS At Higher Rate

This query is : Resolved

Milind Nadkarni (Querist)
Follow

06 January 2011 Hi,
Pls. guide me on the following
If we have deducted Tax at source (TDS) @20% (due to non availability of PAN) and deposited the same in bank and also filed the TDS return, then can we :
(a) issue TDS certificate to deductee
(b) later on if the deductee provides a PAN then can we revise the TDS return.

Regards
Milind

sagar

sagar (Expert)
Follow

07 January 2011 your creditor did not have pan and you deducted 20% TDS and remitted. Your question is after deducting tds if he provides pan number then, what is your stand.

You have rightly deducted tds and remitted. after you get his pan, no; need to revise return, you can adjust latter payments if you want.

Hitender Gaur

Hitender Gaur (Expert)
Follow

08 January 2011 Simpaly issue TDS Certificate to him for 20% TDS if you have filed your return. He will claim refund at the time of filing return.

VANDANA

VANDANA (Expert)
Follow

11 January 2011 (1) Yes You can Issue TDS CERTIFICATE to that Party

(2)Due to non availability of PAN, At the time of deduction of tax, you must have to deduct 20% TDS, & If later on he provides PAN

Than, after receiving you PAN, you can deduct the TAX accordingly..... & issue him TDS CERTIFICATE FOR 20% TDS + ACCORDINGLY RATE AS MAY BE PRESCRIBED

No need to revise RETURN.

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