WROND DEDUCTION OF TDS
This query is : Resolved
11 October 2010
WE ARE A CONTRACTOR IN IOCL REFINERY. WE ARE A PARTNERSHIP FIRM. AFTER 30.09.2009 WE MAKE OUR PARTNERSHIP FIRM A NEW PVT. LIMITED COMPANY IN THE SAME NAME. BUT AFTER 30.09.2009 IOCL DEDUCT THE TDS IN PARTNERSHIP FIRM PAN & DEPOSITED BUT IT SHOULD BE DEDUCT IN COMPANY PAN. NOW I WANT TO KNOW WHAT WILL BE THE TREATMENT OF TDS & SALE AMOUNT AFTER 30.09.2009. WE CAN TAKE DEDUCTION OF ALL TDS FOR THE F.Y. 2009-10 IN THE PARTNERSHIP FIRM OR NOT. PLEASE GUIDE ME.
11 October 2010
TAX CREDIT WILL BE ALLOTEED TO PAN WHICH IS MENTIONED IN THE TDS RETURN. I.E. TDS CAN BE CLAIMED ONLY AGAINST THE RESPECTIVE PAN. IN SUCH CASE JUST ASK THE DEDUCTOR TO REVISE THE TDS RETURN AND MAKE CORRECTION IN PAN.
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11 October 2010
please tell me if the deductor do not file the revised tds return then what will be the treatment.
11 October 2010
IN THAT CASE YOU WILL HAVE TO CLAIM THE TDS IN PAN AGAINST WHICH TDS RETURN WAS FILED ALSO SHOW THE INCOME IN SAME PAN.
11 October 2010
please tell me sale amount on which tds deducted after 30.09.2009 will be shown in partnership firm or pvt limited company
11 October 2010
First of all TDS is not deducted on sale Transaction. Income shall be shown in the entity on whose PAN TDS has been deposited.
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