Tds u/s 206aa
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 June 2012
In case employee does not furnish PAN and TDS is to be deducted u/s 206AA, then whether the benefit of deductions under chapter VI-A would be allowed to employee or 20% TDS rate to be applied on entire salary payment without any deduction under chapter VI-A.
21 June 2012
206AA is a stand alone section. Hence chapter VIA deduction can't be claimed.
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 June 2012
but sir, example 1 given in CBDT cir no. 5 dated 16/08/2011 shows that chapter VI-A deductions are available even in case person does not furnish PAN and TDS deducted u/s 206AA @20%.
23 June 2012
That is true, but a circular can't override the act. Therefore, the sanctity of the circular leads to litigation.
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