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Tds deduction

320 views 3 replies

Vishal

Article Asst.

95 Points Joined August 2013

Hey guys is it right not to deduct TDS just bcoz contractor is not having PAN number & depositing back deducted TDS to the credit of contractor ?

Replies (3)

Guest

No, it is not right. If payments are above the limits of tax deductions, then you must deduct tax. 20%, if PAN is not available. In that case, he (contractor) will not be able to get refund or credit of that tax.

Tribhuvan Aditya Singh

Student as well as Self-employed

3710 Points Joined September 2007

it is not correct to refund the tds amount. you should deduct tds @ 20% on such payment.

Vishal

Article Asst.

95 Points Joined August 2013

Thanks a lot guys for your reply but on whose account that amount do we need to deposit ? As the person whose TDS we are deducting is not having PAN ? So ...........