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A.Y.2011-2012 - PAN FOR AOP

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Querist : Anonymous

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Querist : Anonymous (Querist)
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.
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CA Sanat Pyne

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CA Sanat Pyne (Expert)
18 June 2010 as per the current provision of tds you must hold pan to avoid deduction of tds at maximum rate .
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Querist : Anonymous

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Querist : Anonymous (Querist)
25 June 2010 CAN WE GIVE ONLY 15G. THEN tds WILL NOT BE DONE AND THERE IS NO NECESSSITY OF pan
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