What would be the rate of TDS under section 194Q if seller does not furnish his PAN to the buyer?
Subject
FAQs on TDS or TCS on sale or purchase of goods
Answer
As per section 206AA, if the deductee does not furnish PAN, tax shall be deducted at a rate higher of the following:
• The rate prescribed in the relevant provisions of the act, or
• Rate or rates in force, or
• 5%