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?
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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
in your case pan is not necessary
NO PAN REQUIRED
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