Tax deducted at Source at a higher rate from 1st October 2009 when PAN number of the supplier is not

As per the section 206AA of the Income Tax Act, (introduced in the Finance Bill 2009), Tax deducted at Source (TDS) has to be deducted at a higher rate if the PAN number of the supplier is not available while assessing the TDS.

As per the latest regulation, TDS @ 20% need to be deducted if the supplier PAN Number is not available.

What do you need to do?

Solution:
This requirement could be met by configuring the TDS solution appropriately. The suggested approach is described below.

Implementation:
For handling the above regulatory requirement, Oracle suggests one of the following approaches could be used: