Business Daily from THE HINDU group of publications
Monday, Aug 03, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Monday, Aug 03, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Mentor
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Income Tax Columns - For the Asking Proposal on 20% TDS What is this proposal about 20 per cent TDS? I don’t understand it. Please clarify. Shobana Malinga, MangaloreIt is like this. If a person from whose income-tax is required to be deducted at source does not have a permanent account number (PAN), he would have to suffer a penal TDS of 20 per cent even though the normal rate may be much lower. It is a good move, as it will compel everyone earning income susceptible to TDS to have a PAN card. There is an anomaly though. Section 139A should have been simultaneously amended to mandate obtainment of PAN by everyone whose income is subject to TDS whether he or she has taxable income or not. S. MURLIDHARAN ASK! Send in your queries to ask@thehindu.co.inMore Stories on : Income Tax | For the Asking
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