If an individual under his proprietorship has two concerns, named A & B. as Firm A is earning income from firm B, is TDS is applicable between the firms?
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TDS under Proprietorship
Replies (6)
If they are registered as seperate entity and having diffrent PAN then yes.
Sir,
these are under an individual proprietor so how could these have different PAN?
Ok. Then you can treat one firm as branch of other so in that case there wont be any tax implications.
Thanks Alot sir
Dear Seema,
TDS Law says payment made to another person. In your case payment is made to the same person as he is the proprietor of both the firm. Since payment is not made to another person TDS is not applicable.
| Originally posted by :seema | ||
| " | If an individual under his proprietorship has two concerns, named A & B. as Firm A is earning income from firm B, is TDS is applicable between the firms? | " |
Though there is no tax implication in such a case but as per my view, you should mention what type of income is given by one unit to other? That is very important? And do they have one TAN or two?
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