Tds to deduct or not ?

Dear All

Please see the Vinod K singhania Ready reckoner, Sec 194 C, It is clearly mentioned that if PAN No not provided by deductee , then rate is 20% ( without any limit)

Pls confirm.

Dear All

please See MR VINOD K SINGHANIA READY RECKONER FOR A.Y 2011 -2012 PAGE NO A -323, PARA NO 159-6-1 OTHER POINTS point no (3)

Pls confirm

Dear All,

First i wold like you say that if TDS Provision is not applicable then no need to deduct tds.

In the case of Contractor Limit is Rs. 30000/ 75000,

If you paid the amount or credit the contractor account beyond the limit specified under sec 194 C , Than payer is liable to deduct tds, however if contractor not having the PAN no. then deduct the tds @ 20%.

@ TRILOCHAN

Mr. Triloachan you are also right about when you file the tds return and show the amount of Rs. 15000 and software deduct the tds @ 20% in the absence of the pan no.

Dear if you fill any amount in the software and you not provide the pan no. then software deduct the tds @ 20%, since software donot check the limit specified under sec. 194C automatically.

 Navin  Jain Sir.

Thank You Very Much,

Sir Please confirm me, When i talked with the TDS people of WEBTEL, They told me that, IN  CASE OF ABSENCE OF PAN , THE RATE IS  20% , EVEN  PAYMENT MADE/ BILL AMOUNT IS BELOW THE SPECIFIC LIMIT OF THE RESPECTIVE SECTIONS.

Regards

TRILOCHAN

Wait till Rs. 75,000.00 limit is crossed.

Dear Amol

fir webtel main kya kare.

please See MR VINOD K SINGHANIA READY RECKONER FOR A.Y 2011 -2012 PAGE NO A -323, PARA NO 159-6-1 OTHER POINTS point no (3)

@ Trilochan, software bhi to insan hi banata hai.............in the my opnion still any technical  software is not made who compare the technical Knowldge of CA.

Good Evening Navin Sir,

Sir Pls confirm me, As on 30.07.2011 the tax liability of an individual is Rs.11500/- after TDS.Due to Satur day he has not deposited the TAX Liability. On Monday that is 01.08.2011 he has deposited the Tax liability and going to file the ITR on 01.08.2011, Whether he is Liable to pay Interest U/s 234C and 234B, if 234B then 4months/5 months.

Waiting for your valued reply.

Regards

Trilochan

this will be counted as a belated return b/c saturday is a hald day for banks everybody knows it. There is no genuine reason from the side of assessee as ill health etc.