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TDS

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(Querist)
01 April 2011 Hi,
Can anyone please tell me whether there is any penalty for not quoting of PAN in the TDS Return by quoting "PANNOTAVBL" in place of PAN.
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CA Suresh Choudhary

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CA Suresh Choudhary (Expert)
01 April 2011 You Should not file return by quoting PANNOTAVBL. If the deductee PAN is not known then the tds rate is 20%.
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CA Amit Jaiswal

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CA Amit Jaiswal (Querist)
01 April 2011 By not filing the return there will be again an offence and I will become assessee in default, thereby creating liability for penalties.
I have already deducted the TDS @20%. I just wanted to know whether the return can be filed with PANNOTAVBL in place of PAN.
If a client has not given the PAN, it is not my fault.
Please tell me if there is any penalty for this.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
01 April 2011 No penalty if TDS deducted @ 20%.
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