09 July 2011
i have heard about a new notification about TDS .i.e PAN no. should strictly mention on each and every Bill or negotiable instruement otherwise TDS should deducted with 20%.
09 July 2011
As per section 206AA(5) of the income tax act,1961, PANo should be mentioned in all correspondence,bills vouchers and other documents related to those amounts on which TDS provisions attracts. Non compliance will attract deduction at higher rate as prescribed in 206AA(1) of the said act.
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