03 June 2011
As per new provision of TDS the deductee is required to furnish PAN to deductor otherwise deductor will liable to deduct TDS @ 20% or higher rate.
Q. A person asks to deductor that he is not income tax assessee (as his G.T.I do not exceed Rs. 160000/-) therefore he is not required to obtain PAN No. and thus he is not able to furnish PAN, in such case why he should penalised for higher rate of TDS whereas he is not income tax assessee and not required to obtain PAN.
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