PAN must be mentioned in case the foreign company has been allotted a PAN where you are a director. In all other cases you should choose “foreign company” in the drop-down provided for “type of company” where mentioning PAN is not a mandatory field.

Yes if the value of transaction exceeds INR 50 lakhs. Tax is deductible when buyer paid or payable exceeding the Rs 50 lakhs at the time credit of such amount to the seller or at the time of making payment. Also for the purpose of tax computation of threshold limit you must GST value .Tax needs to be deducted at the rate of .01 % .  In case of PAN not available, the tax deduction rate will be 5 percent.

Here are the tax slabs for the assessment Year 2023-24 for all Individual taxpayers in India.

Individuals (Other than senior and super senior citizen)

                    Up to Rs. 2,50,000- NIL    

Rs. 2,50,000 to Rs. 5,00,000 –5%       

Rs. 5,00,000 to Rs. 10,00,000-20%  

Above Rs. 10,00,000 –30%        

Senior Citizen (whoes age is 60 years or more at any time during the previous year)

                    Up to Rs. 3,00,000- NIL   

Rs. 3,00,000 to Rs. 5,00,000 –5%     

Rs. 5,00,000 to Rs. 10,00,000-20%   

Above Rs. 10,00,000 –30%        

00,000Super Senior Citizen (whose age is 80 years or more at any time during the previous year)

Up to Rs. 5,00,000- NIL

Rs. 5, to Rs. 10,00,000 –20%

Above Rs. 10,00,000 –30%

Code 0020 is for tax on companies and code 0021 is for tax other than companies .  So if you are paying for a company please select the option on challans mentioned as Income-tax on Companies -0020. Tax paid by /for other than companies/corporate select option of other than Companies-0021.

Advance tax needs to be calculated on expected tax liabilities of the relevant financial year. Advance tax is to be paid as per the due dates mentioned below:​​

1. a) For all the assessees (except the eligible assessees as referred to in section 44AD and 44ADA) :
   • i) 15% – On or before 15th June
   • ii) 45% – On or before 15th September
   • iii) 75% – On or before 15th December​
   • iv) 100% –On or before 15th March

1. b) For all the assessee as referred to in section 44AD and 44ADA:​​
   
   • 100% – On or before 15th March

Note: Any tax paid on or before 31st day of March shall also be treated as advance tax paid during the same financial year. The deposit of advance tax is made through challan ITNS 280 by selecting advance tax option and following other instructions as per challan fields .

Advance tax needs to be calculated on expected tax liabilities of the relevant financial year