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.
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.
YES 20% is the applicable rate in case of PAN not available or not provided.
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.
agreed with shudhanshu
CAclubindia
