P&H HC Directs SSP to Respond on Serious Allegation of Custodial Violence by Punjab Police  ||  SC: Market Value of Acquired Land Must be Determined From the Date of Issuance of S. 11 Notification  ||  SC: Hospital Vicariously Liable for Doctor’s Negligence  ||  SC: After Bar Council term Ends, Muslim Member Appointed on that Ground Can't Remain on Waqf Board  ||  SC: Compensation must be Directly Transferred to Road Accident Victims and Workmen  ||  SC: HCs Must Ensure S. 313 CrPC (S.351 BNSS) Compliance at Earliest To Avoid Acquittals  ||  SC Stays Delhi HC’s Direction to Azure Hospitality Pvt. Ltd. to pay PPL as Per Tariff of RMPL  ||  IP Office Declares Starbucks, NDTV and Economic Times as Well-Known Trademark  ||  IP Office Declares Starbucks, NDTV and Economic Times as Well-Known Trademark  ||  Allahabad HC: Liking a Post Does Not Amount to Publishing or Transmitting it    

CBDT relaxes provisions of TDS/TCS in event of death of deductee/collectee, before linkage of PAN and Aadhaar- (Press Information Bureau) (07 Aug 2024)

MANU/PIBU/0621/2024

Direct Taxation

The Central Board of Direct Taxes (CBDT) has relaxed provisions of TDS/TCS in event of death of deductee/collectee, before linkage of PAN and Aadhaar.

In view of genuine difficulties being faced by taxpayers, CBDT issued the Circular no. 8 of 2024 dated 05.08.2024, and vide the same, the Government has relaxed the provisions of TDS/TCS as per the Income-tax Act, 1961(the 'Act') in the event of death of deductee/collectee before linking of PAN and Aadhaar.

In order to redress the grievances of the taxpayers wherein instances have been cited, of demise of the deductee/collectee on or before 31.05.2024 and before the option to link PAN and Aadhaar could have been exercised, the Circular provides that there shall be no liability on the deductor/collector to deduct/collect the tax under section 206AA/206CC of the Act, as the case maybe pertaining to the transactions entered into upto 31.03.2024.

This is in continuation of Circular no. 6 of 2024 dated 23.04.2024 issued earlier by CBDT wherein the date for linking of PAN and Aadhaar was extended upto 31.05.2024 for the taxpayers (for the transactions entered into upto 31.03.2024) to avoid higher TDS/ TCS as per the Act. The Circular No. 06 of 2024 dated 23.04.2024 and Circular No. 08 of 2024 dated 05.08.2024 are available on www.incometaxindia.gov.in.

Tags : PROVISIONS   TDS/TCS   RELAXATION  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved