Need of PAN for submitting 15H or 15G

[satbir singhwahi]

whethher pan is compulsory for submitting 15H and  15G to banks & other parties? Otherwise 20% tds will be deducted.is this correct?

[Surender Gupta]

Yes, after introduction of section 206AA which is applicable with effect from 1-4-2010, PAN is mandatory. This is to ensure eTDS in future.

[RAJESH DHANDA]

yes

AI Summary

PAN requirement for Forms 15G/15H: PAN is mandatory under section 206AA to avoid higher TDS withholding. PAN is mandated for taxpayers furnishing Forms 15G/15H under section 206AA effective 1-4-2010; absence of PAN when submitting these declarations exposes the payer to apply a higher withholding rate rather than accept the declaration, and PAN verification by the recipient is necessary to secure standard TDS treatment and enable eTDS processing.