higher tax rate for nor quoting PAN

You have to pay higher income tax at source with effective from 1st of April 2011 in cases where you have not given your PAN number to the payer. IT act has specified 22 items where the payer has to compulsorily deduct income tax from the income or payment that is paid to the payee. Every person receiving these amounts has to compulsorily furnish his/her permanent account … [Read more...] about TDS @20% if PAN is not quoted