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Quoting PAN in TDS returns made mandatory
February, 15th 2008

The Income Tax Department today made it mandatory for the employers to quote permanent account number (PAN) of all of employees and parties from whom tax is deducted while filing quarterly TDS or TCS returns.

"It has now been decided to enhance the threshold limit for PAN quoting without which TDS/TCS (tax deducted at source/ tax collected at source) returns will not be accepted," said a Finance Ministry statement.

The limit has been enhanced to 95 per cent from 90 per cent in case of Form 24Q and to 85 per cent from 70 per cent in case of Forms 26Q and 27EQ, it said.

All tax deductors, collectors are required to file the TDS or TCS returns in Form No 24Q (for salaries), Form No 26Q (for payments other than salaries) or Form No 27EQ (for TCS).

These forms require details of all tax deductions with name and PAN of parties from whom tax is deducted.

The enhanced limits will be applicable for and from the quarter ending March 31, 2008. These threshold limits will also apply to all TDS and TCS returns that are filed for any of the earlier quarters on or after April one, it said.

The government had earlier decided that TDS Form for salaried persons with less than 90 per cent of PAN data and TDS Form for payments other than salaries and TCS forms with less than 70 per cent of PAN data will not be accepted for the quarter ending September 30, 2007 and thereafter.

The Ministry also asked the employees and other parties to provide correct PAN to their employers and tax deductors, failing which they will not only have difficulty in getting credit of TDS/TCS in their income tax assessments but will also face penal proceedings under the Income Tax Act.

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