Rachit (Analyst) (913 Points)
12 March 2010Is sec.206AA : Requirement to furnish PAN. Whether this section is applicable in the case of payments made to foreign companies on which TDS u/s. 195 or relevant DTAA is applicable
Normally most of the Foreign companies and non-residents to whom payment u/s. 195 is made do not hold Indian PAN numbers.
Please substantiate giving relevant provisions/circulars .....
Anumanchipalli Sathikonda
(Tax Consultant)
(1559 Points)
Replied 15 March 2010
Mr.Rachit
Yes the provisions of new section 206AA are applicable to all. Please refer to section 195(6) also. A Non-Resident can also obtain a PAN. Please visit the nsdl website.
Best Wishes
Sathikonda
Muthu
(Assisstant Manager)
(54 Points)
Replied 19 March 2010
Have attached the press release from CBDT.... you can also check for the Finance Act (2) 2009 for the insertion of new section 206AA
Ameet
(L)
(1678 Points)
Replied 19 March 2010
ACCORING TO PRESS RELEASE OF CBDT, PAN NO. MUST REQUIRED OTHERWISE HIGH TDS RATE.
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