Tds related

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This query is : Resolved

Jagan (Querist)

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)

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)

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)

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)

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)

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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