My client is into transportation business. He pays freight to vehicles hired from the market in cash. Does he need to collect PAN from the vehicle owners / drivers for not deducting tax. Also, does he need to apply for TAN and file TDS returns if he does not need to deduct tax .
Please suggest
| Originally posted by : AYUSH AGRAWAL | ||
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Your Question is Not in Full...... But If Transporter id Individual or HUF & 44AB is Not Applicable to Him.then No Need to Deduct TDS & No Need to Take Number also.... & if Its other Than Above, then TDS to Be deducted & Number for TAN shud be Applied........ & Take PAN number from them..& File TDS return & deduct TDS....... |
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Thanks Ayush,
Just need to knw, suppose i collect PAN from the vehicle owners and dont deduct TDS on paymetns made to them.
But still then i will have to apply for TAN, and submit NIL returns ?
dear all
how can i prepare balance sheet of limited company
Dear Nikhil,
Click on the below link to get knowledge regarding preparation of Financial Statement.
This link will be absolutely helpful for u.
https://www.va-interactive.com/inbusiness/editorial/finance/intemp/balance.html
enjoy life....
keep smiling..
regards,
ratan
Hello Dear friends,
My Company has deducted TDS in a case where there was no liability to deduct the same. What are the repercussions or consequences in this case. Is there any liability on company arises for wrongly deducting the TDS .
Regards
Preety
CAclubindia
