PAN submission prevents higher TDS; failure to furnish leads to elevated withholding rates for payees. Intimate the Permanent Account Number to the deductor; non-furnishing of PAN to the person deducting tax results in withholding at a higher prescribed rate under the tax deduction regime, a rule in effect from 1 April, 2010, and taxpayers should provide PAN to avoid elevated TDS and related compliance issues.
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Provisions expressly mentioned in the judgment/order text.
PAN submission prevents higher TDS; failure to furnish leads to elevated withholding rates for payees.
Intimate the Permanent Account Number to the deductor; non-furnishing of PAN to the person deducting tax results in withholding at a higher prescribed rate under the tax deduction regime, a rule in effect from 1 April, 2010, and taxpayers should provide PAN to avoid elevated TDS and related compliance issues.
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