pavan kumar bejjenki (manager accounts - operations) (39 Points)
23 May 2017IF PAN IS NOT AVAILBLE AND THE AMOUNT PAYABLE IS Rs.20,000/-
WHETHER THE THRESHOLD LIMIT APPLIES IN THE ABOVE CASE.
Sunil Sharma
(CMA & CS)
(584 Points)
Replied 23 May 2017
Yes It will..!!
From the above query i assume, If it is an cash payment then it would be disallowed.
The Limit of 20,000 is reduced to 10,000 from 01-04-2017 onwards.
And if this be the case where TDS is invloved then for not having the PAN the tax would be deducted at 20%
Regards,
Sunil Sharma
CAclubindia
