27 December 2014
Bosch Ltd. Vs. Income-tax Officer, International Taxation, Bangalore, 2012 it was concluded that Section 206AA overrides all other provisions of the Act as it starts with the non-absante clause "notwithstanding anything contained in the other provisions of the Act..." As regards the non-requirement of the Non-residents to apply for and obtain a PAN, held that the press release of the CBDT dated 20.01.2010 clarifies that the requirement of obtaining PAN No. will apply to all non-residents in respect of payments/remittances liable to TDS.
No PAN 20% or applicable TDS rate which ever is higher.
28 December 2014
yes for foreign payment on which TDS provisions are applicable, if PAN is not there then tax required to be deducted at the rate of 20% under section 206AA