Hi all,
As per the new rules of TDS, we need to deduct @ 20% if PAN is not provided.
Will the same applicable for TCS collection ?
Shall I collect @ 20% instead of 1% if PAN is not provided ?
Please clarify.
3 Replies
Akhil Gupta
(Manager F&A)
(856 Points)
Replied 21 July 2010
YES 20% is the applicable rate in case of PAN not available or not provided.
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 21 July 2010
No it shall not be applicable to Section 206C i.e. TCS.
As per Section 206AA(1) these provisions shall be applicable for any deduction under Chepter XVIIB where as TCS is considered under chapter XVIIBB so it shall not be applicable to TCS.
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