As per the new provision of Income Tax Act with effect from 1st April 2010 , in case of non availability of your PAN or incorrect PAN details with the bank, TDS shall be deducted at the higher of the following rates, namely :-
i. at the rate specified in the relevant provision of this Act or
ii. at the rate or rates in force or
iii.at the rate of twenty per cent.
The above is applicable to both Resident & Non Resident customers and also for cases where Form 15G/H or other certificates were submitted for exemption.
Check Pancard Numbering Decoded here.
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