Income Tax, Update

Assessee not to be penalized if TDS challan mentions PAN instead of TAN

In the case of Income Tax Officer-2(5) Lucknow vs. M-s Umatech, the Lucknow ITAT has held that there can be no levy of penalty if the assessee has wrongly mentioned their PAN number of the TDS challan instead of the TAN number as this would amount to a mere technical error.

Also Read: Broadcast companies not liable to pay TDS on Channel Placement Fees

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