This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our PRIVACY POLICY for more information on the cookies we use and how to delete or block them.
Alerts:

Relaxation From Higher Withholding For Non-Residents In Absence Of Pan

01 June 2016

Section 206AA of the Income-tax Act, 1961 (‘the IT Act’) provides that payee entitled to receive any sum or income, on which tax is deductible at source, shall furnish PAN (Indian tax identification number) to payer of such sum or income. In case of failure to furnish PAN, tax is withheld at higher of rate provided under the IT Act or rates in force (i.e. as per Tax Treaty) or 20%.