PAN No.

This query is : Resolved

Sunny Tayal (Querist)
Follow

01 June 2011 Dear Sir

What is the rate of TDS If one Person has acknowledgement of applied PAN No.form?

Is this person is treated as he has PAN or not?

Regards
CA Sunny Tayal

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
Follow

01 June 2011 He will be treated as Without PAN. However, if he submits his PAN within the same quarter, his earlier higher TDS deduction can be adjusted with future TDS at regular rates.

Sunny Tayal

Sunny Tayal (Querist)
Follow

01 June 2011 Thanks for reply

is there any provision in Income Tax

Regards
CA Sunny Tayal

Upgrade to CAclubindia Pro. Subscribe Now!

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
Follow

01 June 2011 Its only a matter of interpreting the law. Higher rate of TDS is applicable... where PAN is not available. So mere acknowledgement of PAN form submission can not amount to equal to PAN.

What if....he fails to submit the actual PAN for the whole year..... OR,

What if his PAN application gets rejected....

So all these things need to be kept in mind before giving any such consideration.

Just like... mere receiving on the copy of cheque can not be treated as an official receipt... similarly acknowledgement on PAN application can not be treated as person with PAN.

Sunny Tayal

Sunny Tayal (Querist)
Follow

01 June 2011 Thanks for reply,

This can also applicable in case of Service Tax