Higher Rate of TDS/TCS for Inoperative PAN holder | Income Tax Update
Income Tax Department in its recent update emphasizes taxpayer should not forget check PAN status of party whose tds is being deducted.
Attention Deducted: Do not forget to check status of PAN of the deductee. Deductee having PAN status of inoperative will attract higher TDS/TCS rate. Refer CBDT Notification No. 15/2023 and Circular No. 3/2023 dated March 28, 2023.