In the 26Q return there were some PAN Nos. which did not match with the IT Database.
In the 'Defaults' generated by tin-nsdl I noticed that for this also 20% deduction is expected by the dept.
i.e. in the core banking you know if there is pan No. the reate would automatically be 10% - if there is no pan then it would be 20%. Some of the depositors might have provided incorrect PAN No. for which the financial instn. cannot be held responsible.
Now, as per the 'defaults' list is generated as if there was a short deduction of 10% for those which are not found in the IT Database.
What axion should I suggest .......? Is there any possibility of correcting .......!!!!
CAclubindia
