Hi Guys,
Does PAN number is Mandatory for a deductee from whom the TDS is deducted? If Mandatory what is the Rate of TCS to be Collectedffrom the deductee who has no PAN?
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Pan for tcs
Replies (4)
Hi Vignesh,
If deductee want to take credit of tax deducted, then its compulsory for him to have PAN and deductee must also ensure to submitt PAN to the deductor to update in TDS return for his TDS transaction.
TDS/TCS rate for non PAN cases is 20% in case of payment covered under other than section 195 (Foreign remittance).
Thanks and Regards,
Manoj B. Gavali
Thanks for the reply? Could you gimme the exact section for that?
Section 206AA
But Section 206 AA does not cover TCS.
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