PAN No.
This query is : Resolved
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
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
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.
01 June 2011
Thanks for reply
is there any provision in Income Tax
Regards
CA Sunny Tayal
is there any provision in Income Tax
Regards
CA Sunny Tayal
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.
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.
01 June 2011
Thanks for reply,
This can also applicable in case of Service Tax
This can also applicable in case of Service Tax
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