Tax deduction without PAN: payer must apply the highest applicable TDS rate when the payee fails to furnish PAN. If a payee does not furnish a Permanent Account Number, the deductor must deduct tax at the highest of: the rate specified in the relevant provision of ... Summary
Tax deduction without PAN: payer must apply the highest applicable TDS rate when the payee fails to furnish PAN.
If a payee does not furnish a Permanent Account Number, the deductor must deduct tax at the highest of: the rate specified in the relevant provision of the Act applicable to the payment, the rate or rates in force under the Finance Act, and a default statutory rate of 20 percent.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.