Pan is not provided

This query is : Resolved

Avinash (Querist)
Follow

04 December 2013 G,mrng. to all,
An employee who is not having PAN; his Gross income is Rs.4Lac he has deposited 1Lac under 80C, now his total income is Rs.3Lacs
My question is on what amount tax will be calculated
a) Rs.1Lac @20%
b) Rs.3Lac @20%
FYI, illustration given in Circular no. 8 dt:-10/10/201. if a person doesn't have PAN is not allowed for basic exemption limit of Rs.2Lac.

Thanking You,
Avinash

Ganeshbabu K

Ganeshbabu K (Expert)
Follow

04 December 2013 in case of NO PAN and having taxable salary income more than basic exemption limit, then tds required to be done on total taxable salary income..
.
.
to say clearly tds required to be done either at the 20% on total taxable salary income or tax caluculated as per normal rates as per Sec.192..tds required to be done where tax amount is more
.
.
TO make clear on this Kindly refer to Sec.206AA of the income tax act.
.
.

Ganeshbabu K

Ganeshbabu K (Expert)
Follow

04 December 2013 Ans. so deduct tds @20% on 3 lakhs

As i said above tds is caluculated on taxable income.means..
.
.
***salary income Less Chapter VIA deductions if any
.
.
Refer Circular here
.
http://www.iiserbhopal.ac.in/PDF/Income%20Tax%20on%20salaries%20FY%202013-14.pdf
.
.
model problem can be refered in 44 page
.
.
Sec.206AA can be refered in para 4.8, which will be in 10th page

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

cgagroshg cgagroshg

venkanna setty

Jayaram Bramhajosyula

NITHIN GEORGE

DHRUV PATEL

Subscribe Now

Pan is not provided

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

CA Final

Accountant

GST CONSULTANCY

GST CONSULTANT