What are the penal provisions for quoting wrong PAN or not quoting it at all in the TDS certificate ??
PLease give section reference also.
2 Replies
Shyam Lal Naik
(Service)
(6156 Points)
Replied 31 May 2008
It is assumed that you are the deductor. Unless 95% and 85% of the TDS records contains valid PAN, for salary and non salary tds returns respectively, TDS return will not be accepted and all consequenses for non filing of return will follow.
deepak thukral
(consultancy)
(45 Points)
Replied 03 June 2008
Any person receiving any sum or income on which tax is to be deducted shall furnish his pan to the person responsible for deduction of tds under section 139A(5A). Failure to apply for PAN or to quote the same in specified transactions may attract penality of Rs.10000
Recent Topics
- Legal service RCM
- OUT OF STATE ADDITIONAL PLACE OF BUSINESS
- Excess claim and paid with DRC03
- Upload of qualified audit report on MCA portal
- Form 26QB on multiple installment
- Is Offering Group Health Insurance Worth It for Sm
- Export of services documents
- AOC4 & CFS,STANDALONE separately
- Gratuity Trust for IT company
- Rule 86B on utilisation of ITC
Related Threads
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert14 February 2025 -
Survey, Search and Seizure under Income Tax Act 1961
CA Hari Agarwal
CAclubindia
