15 November 2011
What is rate of TCS if party doesn't have PAN whether it is prescribed in act or @ 20%, if it 20% than please quote section/circular/notification.
26 November 2011
i think higher deduction of tax is only for TDS & not for TCS. Reason, Sec 206AA cover only payment inder Chapter 17B of act while TCS is falls under Chapter 17BB. So any tax collection through TCS provision does not make sense of higher rate determine for PAN deficiency.What are ur views guys
CAclubindia
