The ISSUES the buyer may face to implement this TDS provisions – The rate of 1% may increase to 20% if seller does not provide PAN due to overriding provision of section 206AA of ITA.

Obtaining TAN number for complying with the provisions; Issuance of TDS certificate to the seller; Filing of TDS return quarterly and mention PAN of the seller; Taxes needs to be deposited within the specified time limit with the Government; and May be scrutinized by the TDS officer The rate of 1% may increase to 20%… Read More