Kindly advise whether TDS is to be deducted on contractors payments even if PAN no is quoted by the party wef 1.10.09 or whether no TDS to be made if PAN no is given.
M S RAMESH (Service) (71 Points)
29 September 2009Kindly advise whether TDS is to be deducted on contractors payments even if PAN no is quoted by the party wef 1.10.09 or whether no TDS to be made if PAN no is given.
Ram Avtar Singh
(Nagari Sultanpur U.P.Delhi)
(14477 Points)
Replied 29 September 2009
1% TDs on Individual & HUF & others 2% to be deduct from 1.10.09
from 1.4.2010 if there is no Pan No. TDS will 20%
Krutesh Patel
(ACA)
(727 Points)
Replied 29 September 2009
Hello Mr Singh,
Provisions that if payee does not provide PAN then TDS will be deducted @ 20% is not applicable for ASST year 2009-10. It will be applicable from ASST year 2010-11.
Hence, contractor other than transport contractor TDS will be 1% for Individual and HUF and 2% for others irrespective that he furnishs PAN
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