Tcs % without pan
This query is : Open
15 November 2011
What is rate of TCS if party doesn't have PAN whether it is prescribed in act or @ 20%, if it 20% than please quote section/circular/notification.
16 November 2011
if customer has not pan than rate of TCS is 20% & code will be 206ce for scrap.
26 November 2011
i think higher deduction of tax is only for TDS & not for TCS. Reason, Sec 206AA cover only payment inder Chapter 17B of act while TCS is falls under Chapter 17BB. So any tax collection through TCS provision does not make sense of higher rate determine for PAN deficiency.What are ur views guys
13 December 2011
Is any expert guide me for my findings in my above comments
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