At what rate the payer will deduct tax if I do not furnish my Permanent Account Number to him?

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SRASHTI JAIN 3 months 1 Answer 47 views 0

Answer ( 1 )

  1. As per section 206AA​, if you do not furnish your Permanent Account Number to the payer (i.e., deductor), then the deductor shall deduct tax at the higher of the following rates :
    • At the rate specified in the relevant provision of the Act.
    • At the rate or rates in force, i.e., the rate prescribed in the Finance Act.
    • At the rate of 20%.​

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