08 May 2010
Experts please resolve my querry: If PAN is not quoted, TDS @ 20% or rate applicable under respective section, whichever is higher, in all cases from April 2010.But if we file TDS return for previous finacial year at present (i.e May 2010)without quoting PAN what is the rate applicable 20% or 1% (194 C)?
08 May 2010
Dear you will be filing return for the financial year 09-10. As per amendment w.e.f. 01.04.2010 if PAN is not provided to deductor TDS should be deducted @ 20%. So for return of financial year the question of higher rate does not arises.
CAclubindia
