Now no Higher Rate in TDS if no PAN available for NRIs

– In Budget 2016, Non-resident Indians (NRIs) without PAN will not be subjected to higher rate of TDS.

Reduce TDS Rate if no PAN for NRIs

– Non-residents without PAN are currently subjected to a higher rate of  TDS. Budget 2016 proposes to amend section 206AA of the Income-tax Act so as to provide that TDS shall not be deducted at a higher rate in case of non-residents not having PAN, subject to prescribed condition.

– It is proposed to amend the relevant provision to provide that on furnishing of alternative documents, the higher rate will not apply.

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