NO NO NO PAN

TDS 420 views 2 replies

DEAR all

We are paying salary to Non Resident Indian who has a no PAN we paying Salary 150000 PM at what rate can we deduct TDS mean How much if he is india from FEB 2014?

Thanking ALL

Binod

Replies (2)

Section 206AA. (1) Notwithstanding anything contained in any other provisions of this Act, any person entitled to receive any sum or income or amount, on which tax is deductible under Chapter XVIIB (hereafter referred to as deductee) shall furnish his Permanent Account Number to the person responsible for deducting such tax (hereafter referred to as deductor), failing which tax shall be deducted at the higher of the following rates, namely:—

(i)  at the rate specified in the relevant provision of this Act; or

(ii)  at the rate or rates in force; or

(iii) at the rate of twenty per cent.

Hence, for AY2014-15 TDS would be @ 20% and AY2015-16 onwards higher of (i),or (ii), or (iii) above


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