08 May 2010
In the case of remittance to a country with which a Double Taxation Avoidance Agreement is in force, the tax should be deducted at the rate provided in the Finance Act of the relevant year or at the rate provided in the DTAA, whichever is more beneficial to the assessee —Circular : No. 728, dated 30-10-1995.
08 May 2010
As per latest amendment of section 206AA if assessee has not furnished PAN No of the deductee then he has to deduct tax at at higher of the following rates: a) at the rate specified in the Income Tax Act b)at the rate or rates in force OR c)Income Tax Act OR 20%
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