HELLO FRIENDS, CAN ANY BODY TELL ME, IF A PERSON HAS NO PAN
CAN BANK DEDUCT TDS ON THE INTEREST?
IF YES, CAN THE PERSON AFTER APPLYING FOR PAN CAN TAKE THE TAX CREDIT. PLS EXPLAIN ME?
1 Replies
Rachit
(Analyst)
(913 Points)
Replied 18 May 2010
Yes the bank will deduct TDS on interest even if the person has no PAN unless he provided form 15H/15G.
YES, THE PERSON CAN AFTER GETTING PAN TAKE THE TAX CREDIT provided he informs the bank his PAN and the bank quotes the same on his form 16
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