TDS rate Higher if PAN not Quote filling Form 15G and 15H

As you know this is the high time of Paying Tax Deduction at Source (TDS). Income tax department has issued a new provision about TDS under income tax act 1961, in this act it is stated that Tax Deduction at Source (TDS) will be charged at high rate means (20% normally) if Permanent Account Number (PAN) is not furnished...

INCOME TAX RULE 40(A) 3 FOR PAYMENT EXCEEDING 20000 & EXCEPTIONS

Income tax has some rules to minimize the evasion of the payment made in cash. These rules are as follows.1- Section 40A(3) a It provides that any expenditure incurred as a payment in sum of exceeding Rs.20000/- otherwise of paying with payee account cheque, demand draft or any transaction made by banks like RTGS, shall not be allowed as...