Tax Deducted Source

This query is : Resolved

sapna (Querist)
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11 May 2011 Is it mandatory to quote 100% Pan No. of Employees in TDS Return. If so then how to file the return in case of non availability of PAN No. of few employees?

CA J KUMAR

CA J KUMAR (Expert)
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11 May 2011 if pan is not available then you have to deduct TDS @ 20% or rate applicable which ever is higher

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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12 May 2011 Deduct TDS @ 20% u/s 206AA but only if Income exceeds exemption limit after all deductions. Also select the option Higher Deduction and mention PANNOTAVBL.

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sapna

sapna (Querist)
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12 May 2011 May I knw the amount of penalty for less deduction of TDS Amount.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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12 May 2011 In case of less deduction the expenditure will be disallowed.