Is PAN compulsory...
This query is : Resolved
06 October 2009
Sir,
Kindly refer to news " TDS assessees must quote correct PAN or pay more tax" published in ET dt. 13/7/2009.
My mother has got sr. citizen FD, She is housewife and not a income tax payee, doe not file return, not having PAN too. Now bank says that she has to take PAN else bank will cut 20 percent TDS inspite of submitting 15H. Bank referred this news to us where it is mentioned that " Sr. citizen people who have interest income which is not taxable should also fill 15 H and quote their PAN in the form, if they don't want to be taxed. Kindly elaborate this to us please.
V.singh
Kindly refer to news " TDS assessees must quote correct PAN or pay more tax" published in ET dt. 13/7/2009.
My mother has got sr. citizen FD, She is housewife and not a income tax payee, doe not file return, not having PAN too. Now bank says that she has to take PAN else bank will cut 20 percent TDS inspite of submitting 15H. Bank referred this news to us where it is mentioned that " Sr. citizen people who have interest income which is not taxable should also fill 15 H and quote their PAN in the form, if they don't want to be taxed. Kindly elaborate this to us please.
V.singh
06 October 2009
Tds rate is 20% if PAN is not quoted by the deductee w.e.f 01/04/2010.
07 October 2009
This is not clear to us sir. When Sr. citizen is submitting 15 H and her income is not taxable and she does not file return, even then bank will deduct 20 %?
If it is so then what is the use of submittibg 15 H.
may kindly answer.
If it is so then what is the use of submittibg 15 H.
may kindly answer.
01 August 2024
https://docs.google.com/document/d/1aBxuQB4kPeBy6Qw9742pBPnlTw27X5axCwDpbcvxaL0/edit?usp=sharing
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GSTR-9C filing
- Import Order Cancelled.
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Applicability of tax on invoice
- Section 269ST applicability for capital introduced by partner to his partnership firm
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Gift to nri relatives residing in usa
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
