Pls help me in solving the following query on the provisions of Income Tax Act, 1961 (TDS related provisions)
Section 272B talks abt the Penalty for failure to comply with the Provisions of Section 139A of the said Act.
& according to Section 139A(5A) Every person who is receiving income from which tax has been deducted (i.e. TDS) is required to intimate his PAN number to the Deductor.
& under Sec139A(5B) every deductor is required to mention PAN of the deductee in various returns & payment to Department.
Noe the Query is :
Will the Company be in default if the deductee doesn not intimate or gives wrong PAN to the Company i.e. deductor?
Hw the Company file return if deductee doesnot intimate his PAN to the Company since mentioning of PAN number of deductee has been made mandatory?
CAclubindia
