If anyone's PAN is inoperative, while making any payment on which is liable to TDS, in this situation, should we consider threshold limit or not. E.g. Interest paid Rs.3000/- during the year which is below threshold limit but PAN is inoperative. In this case, should we deduct the TDS at higher rate, or not to deduct the TDS considering the threshold limit.
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TDS AT HIGHER RATE
Replies (4)
Quick Summary
TDS is applicable only it exceed threshold limit. if it exceed then deduct at higher rate
I was reporting transporter details in tds return for a value of Rs. 10000. Transporter provided declaration hence tds was 0. But the tds return was processed stating shortfall of 20%. So practically, in case of pan inoperative, then deduct tds at 20% ignoring threshold limit.
If any pan is inoperative, the pan must be submitted and a fresh pan must be applied for.
| Originally posted by : sabyasachi mukherjee | ||
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If any pan is inoperative, the pan must be submitted and a fresh pan must be applied for. |  |
Request you sir not to misguide querists.
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