tds of non pan holders
This query is : Resolved
29 March 2017
we need to deduct tds of a pensioner who is does not have pan card. he is a senior citizen his and his pension is 400000. his tds is to be deducted @20% . my query is whether the deduction u/s 80c (rs 50000 in this case) would be considered while deducting tds or not ...on what amount tds@20% will be deducted
29 March 2017
TDS to be deducted Rs.50000/- @20%
29 March 2017
in the same case if his savings were rs 100000 , he wouldn't even had to apply for pan card...am i right?????
29 March 2017
and if he had interest income say 40000 and had not furnished pan card then tds would have been deducted @20% on total interest and
no deduction would have been considered as he was not eligible to submit form 15h...
Message likes :
1 times
29 March 2017
If saving is 100000/- if proof given disbursement officer, than TDS will be nil,
Yes for interest income if you not give 15h with valid pan than TDS will be deducted @20%
Yes for interest income if you not give 15h with valid pan than TDS will be deducted @20%
29 March 2017
can you please give me some reference on why deductions should be considered for tds in case of pension/salary but not in interest income
29 March 2017
Form 15 H is applicable on interest, which you have to compulsory have to produce PAN For non deduction of TDS Otherwise 20%,
For salary you have to give proof for declarations, If TDS applicable on Salary you have to compulsory give PAN, Other wise tds will be 20%.
But now a days employer is showing income in quarterly filing showing the income below Threshold limit. To upload information relate to your income from salary / pension you require PAN.
For salary you have to give proof for declarations, If TDS applicable on Salary you have to compulsory give PAN, Other wise tds will be 20%.
But now a days employer is showing income in quarterly filing showing the income below Threshold limit. To upload information relate to your income from salary / pension you require PAN.
29 March 2017
in reference to what you said on salary.....this pensioner has submitted his proof of investment u/s 80 c but he does not have pan card...so now should we consider his investment while calculating tds or not......further regarding quaterly filing....we didn't file those as we deduct tds from the last pension....
24 October 2021
If PAN is not submitted, the investment proofs have no value. PAN is mandatory for such deduction.
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
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- 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
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
