Sir,
My querry- Railway (being Govt.) has leased out space for advertisement to an Advertsing agency at an amount of Rs. 11,00,000/- for 1 year. But Rly. has got no PAN. Whether the Agency can deposit TDS under Section 191-194 of IT Act without referring the PAN?
With regards.
Hi,
Per my view, the vendor is not required to deduct/remit TDS on payment to railways in the absence of PAN as Railyways is unlike a foreign national.
Thanks,
Suri
Please refer section 196 of the Income Tax act waving the TDS liability on the payer , if the other party i.e, the payee is government
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