Tds if not tan

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 January 2015 Dear All,

If company is newly incorporated and it has not TAN. and it takes the TAN after 4-5 months.
So please clear that if it deals in transactions which falls under TDS rule, then is it liable to deduct TDS?

and how it will these if not having TAN. and further if TAN no is allotted but certificate is not received then what should be done?

Thanks

CA Devanand Jethanandani

CA Devanand Jethanandani (Expert)
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31 January 2015 If company is liable to deduct TDS then it has to apply for TAN, without TAN no. TDS can not be deposited.

Deduct TDS as and when it is applicable and deposit as soon as it receives the TAN no.

If TAN no. is allotted then company can deposit TDS without waiting for receipt of TAN allotment letter, as delay in depositing TDS will attract Interest.

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Rupesh Jain

Rupesh Jain (Expert)
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31 January 2015 company will be liable to deposit the tds and deduct from first day of incorporation.

otherwise its attract intt and penalty.

Message likes : 1 times

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