Dear All,
I am working for a company, One of our clients provided his PAN number in place of his company's PAN for TDS Filing. Can I use his PAN in place of his company's PAN as he is the proprietor of that company.
Example:
I have issued a Cheque on the name of abc(Adveties Services Provider) against paper news published of my company. The Proprietor of abc Mr. A is giving me his PAN in place of abc.
What should I do???
Dear Sir,
1.Proprietor cant form a company .
2. PAN no will be different in both the case.
3. The income of the company is sperate. As the legal identity of the company is seperate as per company law.
So do not cut TDS on personal/individual PAN no.
I hope answer is clear
Regards
Jatin, first confirm the status of ADVETIES SERVICES PROVIDER, whether it is a company or sole properitorship firm. If it is a sole properitorship you can accept his pan number without any hesitation.
If it is a company then look at the bill provided against services, you will find the PAN number, else ask to the person in communication on behalf of service provider. Deduct tds u/s 194C 1% if sole properitorship firm, else 2%.
first be confirm about the legal status of entity
is that is properitorship
yaa you can go ahead and deposit tds to his personal pan
you can use that PAN for filing TDS and it is not your mistake that he had given you the wrong PAN.
But this cannot be the right proceedure.
CAclubindia
