People with No PAN Card to Pay More Tax from April 1
A fresh notification says that tax at source will be deducted and the highest level on income accruing to people without permanent account numbers from April 1, reported IANS.
A circular issued by the Central Board of Direct Tax said that the tax would be deducted at 20 per cent or the highest prescribed rate for the category of income, whichever was higher, said report.
“The law will also apply to all non-residents in respect of payments and remittances liable to tax deduction at source,” a Finance Ministry statement said.
Report said that new guidelines laid down that assessing officer would not issue certificate for deduction at lower rate or zero-deduction unless an application bears the permanent account number.
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