Dear All,
I am sagar baria, working with pvt ltd firm.
my Q. is that we have consultant and we paid his consultancy after deducting TDS and we also paid his rent after deducting TDS to owner. Now i want to know in this case what is the obligations of company and consultant.
regards
sagar baria
Sagar G,
You, being a co. you have to issue TDS certificate and file TDS return in respective month/quarter.
And on consultant side he/she can get the TDS cedit there of, but considering on website updation in 26AS !!!
The TDS obligations are:
1.Tax deduction
2.Tax Remittance with in the due date
3.Quartely filing TDS returns
4.Issuing TDS certificates
5.TDS at 20% in the absence of PAN
CAclubindia
