Rate of tcs if no pan
This query is : Resolved
03 November 2014
if buyer has no pan. then at what rate seller will charge tcs?
03 November 2014
Section 206AA(1) (i.e. deduction at 20% if PAN not available) is applicable only for any deduction under Chapter XVIIB (TDS) and as far as TCS is considered, the same is covered under chapter XVIIBB. Thus, the provision of deduction at higher rate is not applicable to TCS.
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