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PAN No Requirement for Vendors, Income Tax |
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PAN No Requirement for Vendors |
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We have vendors supplying agricultural products to a tune of Rs 5 lakhs an annum. There dont have TIN number since VAT is not applicable. We also dont deduct TDS since it is a purchase. My query is whether the Vendor should give me his PAN Number. If he doesnt have a PAN number is there any problem for my company. John
Posts / Replies Showing Replies 1 to 1 of 1 Records Page: 1
There is no requirement for PAN as per the Income Tax Act, 1961 as purchase is not covered under Section 192B, 194C, 194E, 194I........... However for the purpose of taking deduction and recognition of the person to whom the payment is made, identification proof to be ensured. Page: 1 Old Query - New Comments are closed. |
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