what are the provisions of deducting TDS if PAN of contractor is not available can we deduct it @ 20 % is it justified?
what are the provisions of deducting TDS if PAN of contractor is not available can we deduct it @ 20 % is it justified?
Dear Ankit,
It's NOT that "we can", it;s about "we should"/"we have to" deduct @ 20% if contractor doesnot furnishes his PAN.
Rule is Rule, we have to deduct @ 20% if contractor not submitt his PAN from 01/04/10
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%.
CAclubindia
