Friday, January 24th, 2020

 

Income Tax calculation for AY 2020-21: CBDT’s PAN, Aadhaar rules for employees explained

PAN/Aadhaar rules for AY 2020: Employees may end up paying a lot in tax if they don’t furnish PAN or Aadhaar before the employee (who is responsible for deducting TDS on salary). Such employees may end up paying over 20 per cent of their income in tax to the government!. The Central Board of Direct Taxes (CBDT) recently came out with a circular that explains what will happen if an employee doesn’t furnish PAN or Aadhaar to the employer for tax deduction at source on salary paid to the former. TheRead More