Notification No. 71/2021 - Income Tax Department

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Notification No. 71/2021, issued by the Central Board of Direct Taxes on 8th June 2021, amends Rule 31A of the Income-tax Rules, 1962. This amendment specifically impacts the furnishing of TDS reports for sections 194, 194A, 194Q, 194D, 206AB, and 206CCA. It requires taxpayers to detail amounts paid or credited without TDS deduction due to exemptions within the Act when filing their TDS returns. This change may be why online correction for returns is currently disabled.

Avinash Jeevan Dsouza

Avinash Jeevan Dsouza (Querist)
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22 October 2021 What is the Notification No. 71/2021 - Income Tax Department ?
Am trying to file the correction return online but it is not allowing us. Online correction is disabled. Can anyone explain me?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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22 October 2021 MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 8th June, 2021
(INCOME-TAX)
G.S.R. 395(E).— In exercise of the powers conferred by sections 194,194A,194Q, 196D, 206AB and
206CCAread with section 295 of the Income-tax Act, 1961, (43 of 1961) the Central Board of Direct Taxes hereby
makes the following rules further to amend the Income-tax Rules, 1962, namely:-
1. Short title and commencement. –– (1) These rules may be called the Income-tax (17th Amendment) Rules, 2021.
(2) Save as otherwise provided in these rules, they shall come into force from the date of their publication in the Official Gazette.

In short changes made in furnishing the report in TDS sec. 194, 194A, 194Q, 194D, 206AB & 206CCA ...

Avinash Jeevan Dsouza

Avinash Jeevan Dsouza (Querist)
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22 October 2021 Can you explain me shortly ?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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22 October 2021 The amendments have been made vide Notification No. 71/2021 dated 08-06-2021 in Rule 31A of the Rules, which requires that if any TDS is not deducted due to exemption provided in the act, details of such amount paid or credited without TDS deduction shall have to be filled in TDS Return.
For more information ....
Refer:: https://taxmantra.com/important-update-tds-tcs-return-under-the-it-act-1961/

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