21 June 2012
In case employee does not furnish PAN and TDS is to be deducted u/s 206AA, then whether the benefit of slab of Rs. 2,00,000/- would be allowed to employee or 20% TDS rate to be applied on entire salary payment without any slab rate exemption.
21 June 2012
The section starts with a non obstinate clause. Therefore, maximum amount which is not chargeable to tax (Rs.2,00,000/-) can't be reduced from gross salary.