what are the provisions of deducting TDS if PAN of contractor is not available can we deduct it @ 20 % is it justified?
3 Replies
Amir
(Learner)
(4016 Points)
Replied 12 January 2010
Dear Ankit,
It's NOT that "we can", it;s about "we should"/"we have to" deduct @ 20% if contractor doesnot furnishes his PAN.
Deepak Tapse
(Accounts Manager - Taxation)
(1771 Points)
Replied 12 January 2010
Rule is Rule, we have to deduct @ 20% if contractor not submitt his PAN from 01/04/10
Siji Joy
(UM)
(40 Points)
Replied 12 January 2010
It is mandatory to quote the PAN in TDS return. W.e.f. 1.4.2010, if there is no PAN No., TDS rate will be 20%.
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