Relief on TDS short deduction demand due to non Linking of PAN with Adhaar

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	Blog Categories All ca (1) GST (10) ICAI (1) INCOME TAX (14) ROC & MCA (1) Relief on TDS short deduction demand due to non Linking of PAN with Adhaar Category: INCOME TAX, Posted on: 24/04/2024 , Posted By: CA SOHRABH JINDAL Visitor Count:10 A Big relief on the TDS short deduction demand due to non linking of PAN with Adhaar As per CBDT circular dated 23-4-24, There will be no liability due to non linkage of PAN with Aadhar & hence such dedctors will not be requird to pay the diference. Transactions entered on or before 31.03.24 and status of PAN becme operative as linkd with aadhar on or befre 31.05.24. The CBDT With a view to redressing the grievances faced by deductors/collectors who have collected TDS/TCS at normal rate but was required to deduct /collect at double the rate on account of PAN of the deductee being inoperative due to non linkage of such PAN with AAdhar from 1st April ,2023 has issued a circular no 6 on 23rd April ,2024 not to treat such TDS deductors in default ( short deduction) for the tax deducted at normal rate for transactions entered into upto 31.03.2024 if in such cases the PAN of deductee is linked to Aadhar and hence becomes operative on or before 31.05.2024. In such cases there will be no liability on the deductor/collector to deduct/collect the tax under section 206AA/206CC at double the rate because of PAN being inoperative due to non linkage of PAN with Aadhar and hence such deductors will not be required to pay the difference. Recently many notices have been issued to deductors for shortfall in tax deducted since PAN of deductee was found to be inoperative. Disclaimer: The content of the blog does not create any responsibility of the firm / its authorized persons whose website is being accessed. The blog is not for legal use. Kindly verify the correctness of data/contents from your own sources. This is only for information purpose. To Activate comments you need to provide details for google authentication and facebook authentication

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