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Pan require to get prize money or not?

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(Querist)
14 March 2013 If ABC Ltd. organized a event and have to pay some prize money to winner after deducting TDS @ 30% but winner don't have PAN so, prize money should be paid or hold in the absence of PAN.
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Santosh Mishra

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Santosh Mishra (Expert)
17 March 2013 As you are deducting tax at the highest rate ( more than the rate given in section 206A ) , there is no reason to hold the prize money.

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