MANU/PIBU/0621/2024
Department/Board : Press Information Bureau
Date : 07.08.2024
Notification/ Circulars Referred : Circular no. 6 of 2024 dated 23.04.2024 MANU/DTCR/0007/2024
Citing Reference:
Circular no. 6 of 2024 dated 23.04.2024 MANU/DTCR/0007/2024 Referred
CBDT relaxes provisions of TDS/TCS in event of death of deductee/collectee, before linkage of PAN and Aadhaar
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.