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TDS

TDS / TCS 660 views 3 replies

Harsh

Student

27 Points Posted on 03 November 2009

there is a transpoters unions in himachal pradesh and all have bilty in the name of the union. The union has a PAN number. Companys book expense of transport and credit the union. But at the time of payment the cheque are being made in the name of individual truck drivers.Is the requirement of having PAN is fulfilled by taking PAN of union.

Is there no liablity to take pan number of each truck driver and does the payment to truck driver in there individual name is allowed. Does the truck driver income will be fully disclosed to the department and does there will be no objection from IT department for the payment in individual name.

Replies (3)

Anumanchipalli Sathikonda

Tax Consultant

1559 Points Posted on 27 January 2010

Mr.Harsh

The method of accountng being followed by you is not in consonant with the procedure laid down in sub-section (6) of section 194C (New Section) which has come into force with effect from 1-10-2009. You will be will be treated as a defaulter and you will be be liable to the action which shall be taken by the IT authorities u/s 201.

Best Wishess

Sathikonda

sidhant

Accountant

24 Points Posted on 26 February 2011

Dear Sir,

I am working in a transport contractor & commssion agent company .This company is defauter in income tax.Because every year this company received notice From Scrutiny.Can any sugest me how get rid of defaulter list and how to maintain the book of account.