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  1. caservieces
    As per the newly introduced Sec.206AA of Income Tax Act, 1961. If any individual who has income liable to TDS deduction, but does not have PAN No. then the TDS has to be deducted @ 20% . Now an employee has say, 2,50,000 income. His savings are 100000. The employee argues after taking into consideration his savings his income is not liable to tax , hence he need not produce PAN No. But the Employer argues to take his savings into account the employee should have PAN No.
    Who is correct. Please advise.
  2. caservieces
    I am a Tax Practitioner at Hyderabad. By a Govt. organization I am asked to file Form 24Q and 26Q. They deduct the TDS. This is not deposited in Bank, but is only a book adjustment Entry. As a result there will not be any Challan No. because they do not deposit the proceeds in any bank. In such case I have to write Transfer Voucher No. ? is this Transfer voucher. Please explain.
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