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Income Tax - Frequently Asked Questions (FAQs)

FAQs on TDS or TCS on sale or purchase of goods

What is the consequence if the buyer does not furnish his PAN to the seller?

Contents

Ans. As per section 206CC, if the buyer does not furnish PAN to seller, tax shall be collected at a rate higher of the following:

At twice the rate prescribed in Section 206C(1H) of the act, or
1%

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