If the wrong PAN number is entered in the regular TDS return. The deductor is liable to pay 20% tax or it can be do the revised return to correct the PAN number.
27 June 2014
well thats great..because as such they are not allowing revision of PAN more than 4 digits...please do share how you amended the return...
27 June 2014
Actually I will do the Revised Return but after that again default notice is came. I will contact TRACES Customer care and he told me that if we entered wrong PAN no. in regular TDS return you want to pay the 20% tax. Otherwise the notice is come every time.
Given that Anshul has a different experience, I would suggest that you engage his professional services for this matter as it saves you lot of penalties.
I got the reason for difference in our opinion. The logic by tdscpc is that if you mention a valid PAN, then you can replace whole of it. However, for an invalid PAN, only 4 characters can be amended
30 June 2014
Taxable income is Rs. 204240/- they have investment in 80c so therefore the TDS is Deducted Rs. 4557, but due to wrong PAN No. 20% charged on 204240.00. amount is liable to pay Rs. 36291.00
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