Tds 206aa urgent

TDS 575 views 5 replies

Akshay

Finance

50 Points Joined June 2014

Dear all,

If deductee has not furnished PAN to deductor, TDS @ 20% shall be made under 206AA. In such a case,

1) Will the deductor issue TDS certificate to deductee (in the absence of PAN) ?

2) How will the deductor show this in his TDS returns (without PAN of deductee) ?

3) How will the deductee get the credit of tax deducted @ 20%?

Please tell me the procedural aspects !

Replies (5)

CA Raj Doshi

Practising CA

8944 Points Joined December 2013

1.No certificate will be issued 2. Write in the PAN column as PANNOTAVBL 3. No credit of such TDS is available.... And to point 2 I am not sure. Please wait for other replies.

For point 3...deductee can claim TDS @ 20% provided deducter gives deductee some official proof of Tax deduction @ 20%....and in future if IT department send notice to deductee for excess credit claim...than at that moment he can show to IT department which was given by deducter...

@CS Siddharth Bumb.

B.Com CA Final CS

5270 Points Joined September 2009

agreed with mr raj and swapnil

Dipjyoti Majumdar

CA in service & CS. dipmaj@

3489 Points Joined June 2011

The deductee will not get any credit for TDS @ 20%. How will he get credit when he does not have a PAN and not file ITR ? It is purely Finance Ministry's income.

Later on if the deductee obtains PAN and the deductee is ready to revise the 26Q/24Q only then the deductee can get credit.

Thanks,

Dhaval Karania

Prop

23 Points Joined April 2013

At first instance tds deducted @ 20% means the deductee is does not have pan number. So how can the deducree get credit of the same? In my opinion if deductee is not having pan card then filing of return is not possible and hence credit cannot be claimed.