Tag Archives: TDS Deducted

TDS to be deducted at higher rate where Pan is not Available

  A new provision relating to tax deduction at source (TDS) under the Income Tax Act, 1961 has become applicable with effect from 1 April 2010. ‘Tax at higher of the prescribed rate or 20% will be deducted on all transactions liable to TDS, where the Permanent Account Number (PAN) of the deductee is not available.’ The law will also apply to all non-residents in respect of payments / remittances… Read More »