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Tds on wrong pan no.

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This query is : Resolved

Vipin Kumar Sharma (Querist)

25 September 2012 Dear Sir

By mistake we mentioned wrong Pan no. of one party in I qtr TDS return in 26Q 2011-2012. But after that we filed correction/revised return on 27/02/2012. Now the department asking for 20% Tds & interest ag. that party, are we laible to pay 20% TDS & interest,

Please reply soon its urgent

Thanks in advance.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

25 September 2012 As per the department view there pan not available at the time of deduction TDS so 26Q filed with dummy pan no. So as per the new amendment to TDS if the Pan no not available at the time of deduction of TDS then high rate of TDS @20% has to be deduct in this view department asking you 20% TDS and interest because of lower rate deduction.
So there is no another way first of all you have try to explain to the department and convey them filling 26Q with wrong pan is un-intenstional and we have to pan no of such assessee at the time of deduction of TDS. If the department satisfied and convinced then okay no problem otherwise you have to pay the extra tds and interest because law in favorite to the department.

OM SAI SRI SAI JAI JAI SAI

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