Chapter XII-DASPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC )
Part CProcedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM )
Chapter XX-BREQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT )
Permanent Account Number requirement triggers higher collection rate where PAN not furnished for collection-at-source transactions. Collectees receiving sums subject to collection at source under Chapter XVII-BB must furnish their Permanent Account Number to the collector and include ... Summary
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Permanent Account Number requirement triggers higher collection rate where PAN not furnished for collection-at-source transactions.
Collectees receiving sums subject to collection at source under Chapter XVII-BB must furnish their Permanent Account Number to the collector and include it in all related documents; failure to furnish or provision of an invalid PAN triggers collection of tax at the higher of twice the statute rate or five percent, subject to a twenty percent cap. Declarations under section 206C(1A) and applications for certificates under section 206C(9) are valid only if they contain the collectee's PAN. The provision excludes non-residents without a permanent establishment in India.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
