Is pan of foreign company necessary to deduct tds
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 December 2014
Hi Freinds
Is PAN of a foreign company necessary to deduct TDS? What is the rate if they dont have a PAN?
Is PAN of a foreign company necessary to deduct TDS? What is the rate if they dont have a PAN?
27 December 2014
Bosch Ltd. Vs. Income-tax Officer, International Taxation, Bangalore, 2012 it was concluded that Section 206AA overrides all other provisions of the Act as it starts with the non-absante clause "notwithstanding anything contained in the other provisions of the Act..." As regards the non-requirement of the Non-residents to apply for and obtain a PAN, held that the press release of the CBDT dated 20.01.2010 clarifies that the requirement of obtaining PAN No. will apply to all non-residents in respect of payments/remittances liable to TDS.
No PAN 20% or applicable TDS rate which ever is higher.
No PAN 20% or applicable TDS rate which ever is higher.
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28 December 2014
yes for foreign payment on which TDS provisions are applicable, if PAN is not there then tax required to be deducted at the rate of 20% under section 206AA
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29 December 2014
yes it is necessary u/s 206AA otherwise the tds rate will be @20% .
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