TDS on bill

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This query is : Resolved

Dheeraj Hans (Querist)

02 July 2011 Dear Experts,

I received a bill from one of my vendor who is a proprietor and running a proprietorship firm by the name ABC. He is having PAN No. in his individual name and not in his firm's name. Pls advise can we deduct the TDS taking into consideration his personal PAN No. and issue the TDS certificate in Firm's name by mentioning his personal PAN No.

CA Navin Jain

CA Navin Jain (Expert)

02 July 2011 YES,
can we deduct the TDS taking into consideration his personal PAN No.

BUT
issue the TDS certificate in his personal name also mentioning his personal PAN No.

Dheeraj Hans

Dheeraj Hans (Querist)

02 July 2011 How can I issue the TDS certificate in his personal name when I am booking the bill in his firm's name in my books of accounts

Pragnesh

Pragnesh (Expert)

02 July 2011 In India we register the Proprietorship which is also called a Sole Proprietorship Firm. As per Indian Proprietorship Act 1908 every individual has register any propritorship business by providing his personal and other misc. details. This is also applicable for income tax rule. filing all returns and compliance with department on his PAN and TAN number. Then Do not worry issue TDS certificate in the name of personal name, if it is pertaining to f.y. 10-11.

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