section 206AA

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Querist : Anonymous

Querist : Anonymous (Querist)

17 March 2011 IF A PESON DRAW A SALARY BELOW THE TAXBLE LIMIT I.E. RS160000/- AND PERSON HAVING NO PAN NO. WHAT IS THE STATUS OF THE TDS PROVISION. IS THE SECTION 206AA APPLICABLE.

CA SANDEEP GUPTA

sudhakar ca cwa

sudhakar ca cwa (Expert)
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17 March 2011 TDS is not applicable in this case

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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17 March 2011 Section 206AA is only applicable when TDS is required to be deducted. So Sec 206AA will not apply in this case.

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Querist : Anonymous

Querist : Anonymous (Querist)

18 March 2011 sir

section 206AA is applicable even if the salry below the taxable limt. i.e. 20% tax deducted on below taxable limit. CA Gopal Krishan jain our institute member explained the section in our institute journal Page 1382-page 1385. Kindly read the pages then reply.

CA Sandeep Gupta

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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18 March 2011 Sipmle question do you ask someone to provide PAN when the amount is below threshold limit. No because we are not required to deduct TDS. Only when threshold limit crosses we ask to provide PAN and therefore if the amount is below taxable limit TDS deduction not required as we are not required to file such details in our TDS return.