ABC Pvt. Ltd company is partner in partnership firm m/s XYZ. PQR Pvt. Ltd a company deducted TDS under Contractor category @ 2% of m/s XYZ. Question is that, should such Deduction of TDS considered under corporate deductee code (1)? And respective payment of TDS and Return filing of the TDS of this transaction comes under Company?
In short, could we consider M/s XYZ is company for TDS return Filing and payment of TDS?
| Originally posted by : Santosh Bhosale | ||
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ABC Pvt. Ltd company is partner in partnership firm m/s XYZ. PQR Pvt. Ltd a company deducted TDS under Contractor category @ 2% of m/s XYZ. Question is that, should such Deduction of TDS considered under corporate deductee code (1)? And respective payment of TDS and Return filing of the TDS of this transaction comes under Company? In short, could we consider M/s XYZ is company for TDS return Filing and payment of TDS? |
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0020 company deducte (pvt.ltd. or public ltd.)
0021 non company deductee ( individual, huf, firm)
no such code (1) exists.
XYZ is "FIRM" and TDS rules applied on XYZ as firm
| Originally posted by : U S Sharma | ||
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XYZ is "FIRM" and TDS rules applied on XYZ as firm thank you... but, In TDS return 26Q, could we have to considered as Company to XYZ for Return filing or Non-Company? and TDS deducted of XYZ paid to Income tax considering XYZ as a company? |
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you have to deduct TDS on pan submitted to you, not on their internal structure, i realize that pan submitted to yourself is of FIRM, so you are entitled to deduct from firm and submit return of xyz as rirm only
| Originally posted by : U S Sharma | ||
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0020 company deducte (pvt.ltd. or public ltd.) 0021 non company deductee ( individual, huf, firm) no such code (1) exists. |
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Such Code Exists, when you fill e-TDS return using RPU for form 26Q (27th Column, Annexure-I Deductee-Details)
Deductee Code 1 = Company
Deductee Code 2 = Other than Company
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