– 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.
For More Details about TDS for NRIs
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