49[Requirement to
furnish Permanent Account Number.
206AA. (1) Notwithstanding
anything contained in any other provisions of this Act, any person entitled to
receive any sum or income or amount, on which tax is deductible under Chapter
XVIIB (hereafter referred to as deductee) shall furnish his Permanent Account Number
to the person responsible for deducting such tax (hereafter referred to as
deductor), failing which tax shall be deducted at the higher of the following
rates, namely:—
(i) at the rate specified in the relevant
provision of this Act; or
(ii) at the rate or rates in force; or
(iii) at the rate of twenty per cent.
(2) No declaration
under sub-section (1) or sub-section (1A) or sub-section (1C) of section 197A shall be valid unless the person
furnishes his Permanent Account Number in such declaration.
(3) In case any
declaration becomes invalid under sub-section (2), the deductor shall deduct
the tax at source in accordance with the provisions of sub-section (1).
(4) No certificate
under section 197 shall be granted unless the
application made under that section contains the Permanent Account Number of
the applicant.
(5) The deductee shall
furnish his Permanent Account Number to the deductor and both shall indicate
the same in all the correspondence, bills, vouchers and other documents which
are sent to each other.
(6) Where the
Permanent Account Number provided to the deductor is invalid or does not belong
to the deductee, it shall be deemed that the deductee has not furnished his
Permanent Account Number to the deductor and the provisions of sub-section (1)
shall apply accordingly.]