Dear Members,
One of our cliental Company has under gone CBI Enqiry and Inquiry as well and they (CBI) served notice to our bankers
all those accounts held in our company name and some of FDS they have asked to keep in the name of Firnicipal Judge.
The Bankers are deducting TDS on interest earned on such deposits and they deducted TDS @ 20% as PAN Not available
(The deposit in the Name of Principal Judge) and they have kept the amount of tds deducted in suspence account. And now
what we are claiming is either don't deduct TDS on such deposits till further instructions from CBI Court or Deduct the TDS
in our name(in the name of company) and remitt the same to central government account. For which your guidence and
suggestaions are sought along with any suitable case laws available. I request you all to expedite the same so as to enable
me to draw a financial plan for this month end.
A Raghavendra
CAclubindia
