Mar 22, 2010

TDS rate Higher if PAN not Quote filling Form 15G and 15H

As you know this is the high time of Paying Tax Deduction at Source (TDS). Income tax department has issued a new provision about TDS under income tax act 1961, in this act it is stated that Tax Deduction at Source (TDS) will be charged at high rate means (20% normally) if Permanent Account Number (PAN) is not furnished with depositing TDS amount under the Form 15G and 15H.This rule also applies to NRI as well as residents of India. Under this provision, No deduction or deduction at lower rate will only be allowed if the application bears PAN of the applicant/deductee. The rule of deducting higher rate of TDS if PAN not furnished applies on or after 01-04-2010
To know more go to
TDS rate Higher if PAN not Quote filling Form 15G and 15H: "

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