SIr
We know that Firms are exempted for deducting TDS on Transporters if they provide PAN No.. So wat r Auditors Duties in this regard under Income Tax Audit of these Firms not deducting TDS ?
SIr
We know that Firms are exempted for deducting TDS on Transporters if they provide PAN No.. So wat r Auditors Duties in this regard under Income Tax Audit of these Firms not deducting TDS ?
FIrst make an extract of all the transporters which will be equal to your transporation or freight expense ledger....
then ask the party to give the PAN details...
cross check a few entries
1) They have to mention their PAN in their Bills.
2) Obtain xerox copy of their PAN & keep it in a master file.
3) If its in large volume make a sample checking other wise check thePAN & mentioned in the Bill are the same other wise you have to shell out 20%
Shaswat initial support private limited
Ahmedabad
CS
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