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Issue ID: 2894

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PAN No Requirement for Vendors

15 Mar 2011

1 Reply

4207 Views

Asked by

JOHN SHANNEL

PAN requirement for vendors absent where purchases fall outside withholding rules; obtain identification proof for payee recognition.
No statutory obligation exists to collect a vendor's PAN when purchasing agricultural products that are not subject to VAT/TIN and are outside the Act's withholding provisions; nevertheless obtain reliable identification proof of the payee for recognition and recordkeeping. (AI Summary)

We have vendors supplying agricultural products to a tune of Rs 5 lakhs an annum.

There dont have TIN number since VAT is not applicable.

We also dont deduct TDS since it is a purchase.

My query is whether the Vendor should give me his PAN Number. If he doesnt have a PAN number is there any problem for my company.

John

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