PAN requirement

This query is : Resolved

Hiren Vira (Querist)
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27 October 2009 If a person wants interest other than "interest on securities" payment without tax deduction and it has no PAN, is he required to furnish Form No. 60?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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27 October 2009 Up to 31/03/2010 form 60 will service the purpose.Thereafter PAN is mandatory otherwise tax will be deducted @ 20%.

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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27 October 2009 Agree with expert.

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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27 October 2009 However I think Form No. 60 is required to be furnished by the person making payment and not by the person who receipts such payments.

The recipient has to apply to the Assessing officer in Form No. 13 to get certificate for Nil tax under Sec.197. Valid till 31.03.2010

Hiren Vira

Hiren Vira (Querist)
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27 October 2009 Does the person has to furnish Form No. 60 even if he submits Form No. 15G/15H for claiming income without deduction of tax, if he is not holding PAN?

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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27 October 2009 Experts are Right.

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