Can anyone give their valuable reply for query,
Mr.A is karta of his HUF
A has separate business and separate current account for both businesses (individual and HUF)
In case of current account in the name of HUF, banks have policy that of anyone wants debit card then it will b issued in the name of individual karta even the account behind that was HUF current account.
And any TCS collected by bank from the expense incurred via that debit card will b deposited in the Individual pan of karta.
Accordingly 26AS of karta shows the TCS collected by bank for the expenses incurred from that debit card, even though that expenses related to HUF Business.
Q-1, how can we rectify the error in individual PAN?.
Q-2, how can we show the expense and claim TCS in HUF Business since the transaction showing in individual PAN.
CAclubindia
