Tds related

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Jagan (Querist)
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10 March 2015 CAN A SOLE PROPRIETORSHIP DEDUCT TDS WITHOUT TAN NO, IF YES THEN HOW CAN HE DEPOSIT THE TDS TO INCOME TAX DEPT.

Gaurav Vora

Gaurav Vora (Expert)
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10 March 2015 A Sole Proprietor is liable to TDS provisions, only if he falls under Section 44AA & 44AB, i.e. only if his turnover exceeds Rs. 1 Crores. If that is the case, he should first apply for TAN No. & then only he can deduct the TDS.

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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10 March 2015 For TDS deduction deductor should have valid TAN number, if not having but deducted TDS, then obtain TAN and pay after alloted TAN with applicable intetest to government

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Jagan

Jagan (Querist)
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10 March 2015 thanks Gaurav, he has confirmed that his turnover exceeds 2 cr, so as per his Auditor guidance he is deducting tax from past few months on the rent what he is paying me.

however he dont have a TAN No.

Gaurav Vora

Gaurav Vora (Expert)
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10 March 2015 Jagan, in that case, as Ramesh rightly said, ask the proprietor to apply for a TAN No. & pay the TDS amount along with interest.

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Jagan

Jagan (Querist)
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10 March 2015 yes gaurav, i understood what ramesh explained, however now can i claim the TDS (from my tenant)what ever he has deducted while paying my rent as he will not be able to give be certificate for this FY-14-15.

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