« Top Headlines » Open DEMAT Account in 24 hrs  Income Tax Return Filing: 10 Mistakes To Avoid When Filing ITR For AY 2024-25  Old vs New Tax Regime: Who should move to the New Tax Regime from the old one?  Income Tax Calculator FY 2023-24: How To Know Your Tax Liability Online On IT Dept's Portal?  BackBack Income Tax Act amendment on cards on tax treatment of MSME dues  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing. Check details here  Income tax slabs FY 2024-25: Experts share these 8 benefits for taxpayers in new income tax regime  How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals   Income Tax Return: 5 lesser-known tax-saving tips from Section 80 «  Better ‘closed’... Taxpayers may pay for I-T's delay... » I-T Dept not to accept TDS returns without PAN details September, 26th 2007 The government on Tuesday said it will not accept tax returns for the quarter ending September 30 and thereafter if companies fail to provide PAN details of a majority of their employees. The Income Tax Department will not accept the quarterly TDS returns in respect of salaries if companies did not give PAN details of at least 90 per cent of their employees, an official statement said. In case of TDS returns for payments other than salaries and TCS (tax collected at source) returns, all companies must submit PAN details of at least 70 per cent their staff. If the companies fail to provide PAN details they will face penal proceedings under the Income Tax Act. The government also asked taxpayers liable to TDS/TCS to furnish their correct PAN with their employers, failing which they will also face penal proceedings. The statement said it has been observed that in most of the TDS or TCS returns, the Permanent Account Number (PAN) of the taxpayer is either missing or incorrect. As the requirement of filing TDS/TCS certificates has been done away with, the lack of PAN of deductees is creating difficulties in giving credit for the tax deducted and collected, the statement said. The government also made filing of TDS or TCS returns in electronic form mandatory for additional categories of taxpayers from the July-September quarter.