The Indian Income Tax Department has announced vide a notification dated 20th January 2010 that:-
- Tax at source will be deducted at the highest level on income accruing to people without Permanent Account Numbers/PAN’s with effect from 01st April 2010.
- The tax will be deducted at 20 per cent or the highest prescribed rate for the category of income, whichever is higher.
- This will be applicable to all Non-Residents in respect of payments and remittances liable to tax deduction at source.
- The Tax-assessing officer will not issue certificate for deduction at lower rate o zero-deduction unless an application bears the Permanent Account Number/PAN.
Persons not having PAN may apply immediately for PAN and avoid paying more Income Tax.
Contact UTI Technology Services and obtain a PAN/PAN Card easily.