If you don’t have PAN card and want to apply for new card, read about how to apply for pan card?. This article writes about the new rule to make the PAN compulsory for whose income after the TDS deduction.
Submit Your PAN Details to Avoid TDS
PAN is compulsory if your income is above the taxable income. This rule is already in place. But, there is no need of mentioning the PAN when your income is from bank interests, the banker will deduct the TDS and credit the remaining amount. Till now you can submit the Form 15G or Form 15H to avoid the TDS. In this case, there is no need to mention the PAN card number. With effective from April 1,2010, every one has to submit their PAN card details to avoid the TDS deduction on highest rates. It will be compulsory for anyone receiving the money after TDS deduction.
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