Penalty for non availablity of PAN Card for TDS payment
This query is : Resolved
Guest
Guest
(Querist)
25 February 2010
The company normally purchases plastic polymers for packing materials on a contract basis from XYZ party.
XYZ party has no PAN Card till date and never furnished towards TDS certificate till date.
With new rule The Income Tax dept requires complete details of PAN card for availing TDS Certificate, else penalty is levied
Question:
how much rate of penalty is a party subject to pay?
Is it calculated, say 25% over Income of the party or the total Income slab the party falls??
I request the updated rule of penalty in respect of TDS for not furnishing PAN Card.
XYZ party has no PAN Card till date and never furnished towards TDS certificate till date.
With new rule The Income Tax dept requires complete details of PAN card for availing TDS Certificate, else penalty is levied
Question:
how much rate of penalty is a party subject to pay?
Is it calculated, say 25% over Income of the party or the total Income slab the party falls??
I request the updated rule of penalty in respect of TDS for not furnishing PAN Card.
25 February 2010
a person whose tax is being deducted at source should furnish his PAN to the deductor. If he fails to do so, he will have to pay a flat 20% TDS.
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
- Gst credit note by supplier
- Movement of goods by packers and movers - type of sale - Reg.
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Missed uploading GST Invoice
- Query on effect of registration of property
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Wrong CMPo8 file
- Equity Share Sale and Purchase
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
