18 June 2010
Ours is a small AOP formed for the purpose of local charitable activities. We have kept some deposits with local banks and so far, we were giving 15G
However, so far, we have not applied for PAN since our income was below taxable limits
Now Bank is insisting on PAN or else they will deduct TDS at higher rate.
Is it compulsory for us to apply for PAN or can we just give 15G.
We are not interested in applying for PAN since it is a small organisation.