TCS

CBDT Big Relief No Penalties for Inoperative PAN TDS/TCS Shortfalls

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CBDT’s Big Relief: No Penalties for Inoperative PAN TDS/TCS Shortfalls

In a significant relief for taxpayers and businesses, the Central Board of Direct Taxes (CBDT) has announced a waiver of penalties and tax demands related to shortfalls in Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) caused by inoperative PANs. This move addresses the issues faced by many who were hit with … Read more

Income Tax Department has given relief on TDS, TCS defaults for inactive PAN in these cases

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Income Tax Department has given relief on TDS, TCS defaults for inactive PAN in these cases

Inoperative PANs and Higher TDS/TCS: CBDT Offers Significant Relief New Delhi: The Income Tax Department, through the Central Board of Direct Taxes (CBDT), has announced crucial relief for taxpayers and businesses concerning higher Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) rates applied when Permanent Account Numbers (PANs) are inoperative. The Root … Read more