Tds deduction
This query is : Resolved
14 December 2013
hii!! i m a Account Assistant. following is my queery
As per the TDS Rule, i Stared to Deduct TDS on advance Paymnet Basis . i deduct TDS 2% as it is contractor & he has told that hi has firm PAN Card . but when i received a Bill the PAN no. is of Client Name(individuals) & not the Co. Name. in this situation shall i continue to Deduct 2% TDS or else 1%
As per the TDS Rule, i Stared to Deduct TDS on advance Paymnet Basis . i deduct TDS 2% as it is contractor & he has told that hi has firm PAN Card . but when i received a Bill the PAN no. is of Client Name(individuals) & not the Co. Name. in this situation shall i continue to Deduct 2% TDS or else 1%
CMA Ramesh Krishnan
(Expert)
14 December 2013
If possible you can adjust the tds amount with rate of 1%, otherwise let it 2% only
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