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Tds query


suresh (accountS )     26 March 2012

suresh
accountS  
 4 likes  158 points

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There is one party who has deducted Tds in the year 2010-2011.and paid to govt in year 2010-2011 But not mentioned deductee (our) PAN NO on it . they issued TDS CERTIFICATED in the year f.y 2011-12 for f.y-2010-2011 (date mentioned on it fy 2010-2011)

my query is

1. do system accept TDS payment if deductee PAN  not mentioned on it

2. if they revise TDS return in there books in fy-2010-11 can we take benefit in our books f.y.2011-2012

avater

CA Saroj Kumar (Keen to learn something new every moments)     26 March 2012

CA Saroj Kumar
Keen to learn something new every moments 
 241 likes  2588 points

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1.

while the time of TDS return we should have to must write PAN Number otherwise there will be error on file uploading. if u r not p[roviding PAN number there will be shortfall because in case of non production of PAN number we required to deduct TDS @ 20 % or rate applicable which ever is higher.

2.

Yes u can take benefit of Credit because falt has been done at the part of Deductor not on ur part.

 

Manmeet (Accountant)     28 March 2012

Manmeet
Accountant 
 21 points

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Please explain how the what are the ledgers created for the tds entries and how we can post the entries in the ledger account with example


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