Although in some cases, quoting of PAN for certain type of transaction is must, for most of the transactions quoting of PAN is optional yet it is beneficial to quote PAN in your own interest. When TDS is to be deducted by payer, you should quote your PAN for getting TDS deducted at lower rate. If you do not quote your PAN on transaction that attracts TDS, the rates applicable for deduction will be subject to the provisions of Section 206AA of the Income-Tax Act, 1961. This section provides that where PAN is not quoted, the rate applicable will be