PAN requirement
This query is : Resolved
Hiren Vira
(Querist)
27 October 2009
If a person wants interest other than "interest on securities" payment without tax deduction and it has no PAN, is he required to furnish Form No. 60?
27 October 2009
Up to 31/03/2010 form 60 will service the purpose.Thereafter PAN is mandatory otherwise tax will be deducted @ 20%.
CA SANJAY MUKHERJEE
(Expert)
27 October 2009
Agree with expert.
CA SANJAY MUKHERJEE
(Expert)
27 October 2009
However I think Form No. 60 is required to be furnished by the person making payment and not by the person who receipts such payments.
The recipient has to apply to the Assessing officer in Form No. 13 to get certificate for Nil tax under Sec.197. Valid till 31.03.2010
The recipient has to apply to the Assessing officer in Form No. 13 to get certificate for Nil tax under Sec.197. Valid till 31.03.2010
Hiren Vira
(Querist)
27 October 2009
Does the person has to furnish Form No. 60 even if he submits Form No. 15G/15H for claiming income without deduction of tax, if he is not holding PAN?
Murtaza I Bhagat
(Expert)
27 October 2009
Experts are Right.
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