Student CA final
1113 Points
Joined June 2016
As per 206(AA) - ITS 206(AA) - As per Section 206AA, TDS is required to be deducted @ 30% if the deductee does not possess OR fails to furnish PAN (Permanent Account Number) on Sections 192/A , 194B/BB otherwise it will be 20%.
So, if the Deductee fails to furnish pan card but furnished -
(i) name, e-mail id, contact number;
(ii) address in the country or specified territory outside India of which the deductee is a resident;
(iii) a certificate of his being resident in any country or specified territory outside India from the Government of that country or specified territory if the law of that country or specified territory provides for issuance of such certificate;
(iv) Tax Identification Number of the deductee in the country or specified territory of his residence and in case no such number is available, then a unique number on the basis of which the deductee is identified by the Government of that country or the specified territory of which he claims to be a resident.
then no such higher rate is applicable for payments in the nature of interest, royalty, fees for technical services and payments on transfer of any capital asset,