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TCS Rate if PAN No. is not with the buyer

This query is : Resolved 

14 June 2011 Dear All,
Please advise whether TCS Rate will be 20% if PAN No. is not there with the buyer.
Thanks and regards,
Ramesh

15 June 2011 If PAN number is available, TDS or TCS will be deducted/collected as per the income tax rules. However, if there is no PAN, then TDS or TCS will be collected @ 20%.

Thanks,
CA M Sreenivasa Rao
R&S Associates


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