NCLAT: Can’t Dismiss Restoration App. if Filed in 30 Days from Date of Dismissal of Original App.  ||  Delhi HC: Communication between Parties through Whatsapp Constitute Valid Agreement  ||  Delhi HC Seeks Response from Govt. Over Penalties on Petrol Pumps Supplying Fuel to Old Vehicles  ||  Centre Notifies "Unified Waqf Management, Empowerment, Efficiency and Development Rules, 2025"  ||  Del. HC: Can’t Reject TM Owner’s Claim Merely because Defendant Could have Sought Removal of Mark  ||  Bombay HC: Cannot Treat Sole Director of OPC, Parallelly with Separate Legal Entity  ||  Delhi HC: Can Apply 'Family of Marks' Concept to Injunct Specific Marks  ||  HP HC: Can’t Set Aside Ex-Parte Decree for Mere Irregularity  ||  Cal. HC: Order by HC Bench Not Conferred With Determination by Roster is Void  ||  Calcutta HC: Purchase Order Including Arbitration Agreement to Prevail Over Tax Invoice Lacking 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