Relief for dedution of TDS/TCS at normal rate for the FY 2023-24

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42 Points Posted on 24 April 2024

Relief for dedution of TDS/TCS at normal rate for the FY 2023-24

If PAN is locked due to it not being linked to Aadhaar, then you have to deduct TDS/TCS at a rate higher than the normal rate. CBDT has now said that if you contact those persons and get their Aadhaar PAN linked by 31st May 2024, then you will not have to deposit TDS/TCS at higher rate for the FY 2023-2024.

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On 24 April 2024 at 09:50 Report
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Good news for taxpayers! If your PAN was locked for TDS/TCS deductions due to not being linked to Aadhaar, you can now avoid higher deduction rates for FY 2023-24. The CBDT has announced that linking your Aadhaar and PAN by 31st May 2024 will allow you to continue deducting TDS/TCS at the normal rate. This provides significant relief and avoids penalties for non-compliance.

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26 Points Posted on 24 April 2024

official notification attached for reference

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On 24 April 2024 at 20:18
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26 Points Posted on 24 April 2024
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On 24 April 2024 at 20:18

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