Higher TDS rate under Section 206AA applies as the highest of the provision rate, prevailing rates, or statutory fallback. Where Section 206AA applies due to non furnishing of PAN, tax is to be deducted at the highest of: the rate specified in the relevant provision of the ... Summary
Higher TDS rate under Section 206AA applies as the highest of the provision rate, prevailing rates, or statutory fallback.
Where Section 206AA applies due to non furnishing of PAN, tax is to be deducted at the highest of: the rate specified in the relevant provision of the Income tax Act; the rate or rates in force for the payment; or a statutory fallback rate of twenty percent.
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