PAN non-furnishing: higher tax collection rate applies to buyer transactions under income tax provisions for TCS/TDS. Failure by a buyer to furnish PAN triggers collection under Section 206CC: tax must be collected at the higher of twice the rate prescribed in Section 206C(1H) or at one percent, placing a defined collection duty on the seller when the buyer does not provide PAN in sale or purchase of goods.
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.
Provisions expressly mentioned in the judgment/order text.
PAN non-furnishing: higher tax collection rate applies to buyer transactions under income tax provisions for TCS/TDS.
Failure by a buyer to furnish PAN triggers collection under Section 206CC: tax must be collected at the higher of twice the rate prescribed in Section 206C(1H) or at one percent, placing a defined collection duty on the seller when the buyer does not provide PAN in sale or purchase of goods.
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