When TDS is deducted from Payments to non residents @ 30.9% is it mandatory that the NRI should take a PAN even if the total amount paid is only Rs80,000? Will the deductor be liable to pay fine of Rs.10,000 for not providing PAN in the quarterly return?
Menu
Is pan necessary for tds u/s 195
Replies (6)
since TDS is already deducted at a higher rate, i dont think Furnishing of PAn is necessary
No, Sec 206AA Provides That Where PAN is Not provided, Deduct TDS @ Maximum rate i.e. 20%.
Since in Your Case You ar Already Deducting TDS @ 30%, No PAN Required.
As you already deduted tax at higer rate ...PAN is not required
If PAN is not provided, TDS rate is 20% or normal rate of TDS which ever is higher. So as you collected 30.9%, you complied your part . And the deductee cannot claim that as TDS and he again has to pay tax on the net amount he has received.
in your case pan is not necessary
NO PAN REQUIRED
Recent Topics :
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
- HDFC Bank’s Bureaucracy: The Nightmare of Fl
- Running a CSC Center, Maha E-Seva Kendra, Setu Ken
- GSTR-9 Table 8A issue
- CA Inter Coaching institutes at Hyderabad
- Looking for practising CA
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
- Remittance to italy
Related Topics :
CAclubindia
