any one can please provide me a way?
i joined on 9th oct 2012 in a company for 5L pack.
For 1st month salary period is 9th to 20 th. and that period amount will credit on 28th oct in my A/C.
I have no pan card till.
some one told me 20% tds penalty is there.
is there any way to escape from tds of 20%.
if i take cheqe then what?
Dear,
Apply for the pan card and tell your company that you have aplied for the pan card while submitting your tds if they mention PAN applied then no need to deduct TDS @ 20%.
As long as your annual taxable income exceeds Rs.2L TDS will be deducted @ 20%
You can avail benefit of deduction up to Rs. 1 L u/s 80 C, Rs. 15K/20K u/s 80, HRA paid &/Or Int on Housing Loan upto Rs. 1.50 L from your Taxable annual Gross Income.
Rgds//Vaibhav
CAclubindia
