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Tds credit

TDS 242 views 7 replies

C.A. Sandeep Wawhal

CA PGDFM BCom

1831 Points Joined June 2010

Friends,

We have TDS receivable in firms account from Stock Broker but he credited TDS on individual's account bcz demat account was opened on the name of individula and not firm. Now how could i claim tds on firms ITR. Individual dont want to claim andhis return already submitted.

Pls reply.

Thank you

Replies (7)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

208176 Points Joined July 2016

Presently Demate account is in the name of Firm or Individual?

Is it Partnership firm?

Brahma nanda Agrawal

KOLKATA

331 Points Joined December 2014

Firm means you are talking about partnership firm or own business firm

C.A. Sandeep Wawhal

CA PGDFM BCom

1831 Points Joined June 2010

Sir,

I am talking about partnership firm

nikhil bhudolia

CA FINAL

109 Points Joined December 2014

dear brahma and deeraja sir does it make diffrence if his firm is partnernship or business. ..please clarify my query
thanking u

RAJA P M

"Do the Right Thing...!!!"

128116 Points Joined January 2015

If TDS deducted on PAN based...

As per my view no way for claim the TDS from individual pan to Firm's pan...

Brahma nanda Agrawal

KOLKATA

331 Points Joined December 2014

You have to revise the return of individual, Claim TDS and Respective income in the hands of individual. There is no way to transfer this income to partnership firm.

Open demat account in the name of firm and transact to claim deduction in the name of firm.

C.A. Sandeep Wawhal

CA PGDFM BCom

1831 Points Joined June 2010

Firm has nature of business as trading in shares but demat account is opened on the name of working partner on behalf of Firm bcz there is no provision to open demat account on firm's name. Hence we are facing the problem of TDS. Now we have booked Income of Firm in its computation but TDS credited to Partners account base on PAN. Now how to get credit in Firm ?