There are certain vendors whose PAN become inoperative on 01.07.2023 due to non-lnking of AAdhar with PAN. However, higher TDS deduction was erroneously not done in Q2 of FY 2023-24 resulting in demand for 19% short deduction and interest thereon in Form 26Q. If the vendors links the Aadhar now in November and make the PAN operative, if the higher deduction u/s 206AA still required for Q2?
Is interest u/s 201 applies if the inoperative PAN is made operative?
CA Rakesh Roshan Nayak (CA ) (56 Points)
06 November 2023