Tax to be deducted at higher rate for PAN and Aadhar not linked vendors
Hi,
From 1st July, 2023, the PAN of taxpayers who have failed to intimate their
Aadhaar, as required, shall become inoperative and the consequences during the
period that PAN remains inoperative will be as follows:
(i) no refund shall be made against such PANs;
(ii) interest shall not be payable on such refund for the period during which
PAN remains inoperative; and
(iii) TDS and TCS shall be deducted /collected at higher rate, as provided in
the Act.
Any one have idea to apply higher rate for TDS for this type of vendors. Is any standard functionality availalbe to get this vendors from the system to apply the higher rate of TDS for material purchase and service.