dear all tax professionals
i have a basic query regarding TDS
as per I. TAx Act , Deductor has to deduct TDS @ 20 % in case payee doesnt have a PAN
" now if payee doesnt have PAN , Deductor pays amount to payee after deducting TDS @ 20 %
Now this TDS has to be deposited with Govt thru Challan after giving all details of payee
Deductor has to submit TDS return along with all details including such payees and I. Tax Dept. updates Form 26 AS accordingly
Now if a persons doesn;t have PAN , Tds deducted so @ 20 % goes to whos account how Form 26 AS will be updated "?????????

From India , Pune
The 26AS shall not be updated untill the Payee shall apply for the PAN and tds return will not be review with his correct pan
Till the date, the amount will be in the suspense bank account of Itax department.
This is just like a penalty for non applying of PAn

From India , Delhi
The 26AS shall not be updated untill the Payee shall apply for the PAN and tds return will not be review with his correct pan
Till the date, the amount will be in the suspense bank account of Itax department.
This is just like a penalty for non applying of PAn

From India , Delhi

If you are knowledgeable about any fact, resource or experience related to this topic - please add your views using the reply box below. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone.

Please Login To Add Reply →






About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2021 Cite.Co™

All Material Copyright And Trademarks Posted Held By Respective Owners.
Panel Selection For Threads Are Automated - Members Notified Via CiteMailer Server