{"id":969,"date":"2024-08-08T06:35:49","date_gmt":"2024-08-08T06:35:49","guid":{"rendered":"https:\/\/caalokkumar.com\/my-writing\/?p=969"},"modified":"2024-08-09T06:24:23","modified_gmt":"2024-08-09T06:24:23","slug":"tds-tcs-in-event-of-death-of-deductee-collectee","status":"publish","type":"post","link":"https:\/\/caalokkumar.com\/my-writing\/tds-tcs-in-event-of-death-of-deductee-collectee\/","title":{"rendered":"CBDT relaxes provisions of TDS\/TCS in event of death of deductee\/collectee, before linkage of PAN and Aadhaar"},"content":{"rendered":"\n<p>The Central Board of Direct Taxes (CBDT) has issued Circular No. 8 of 2024 on August 5, 2024, providing relief regarding the provisions of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) under the Income-tax Act, 1961. The relaxation is specifically for cases where the deductee (person from whom TDS is deducted) or collectee (person from whom TCS is collected) has passed away before linking their Permanent Account Number (PAN) with Aadhaar.<\/p>\n\n\n\n<p><strong>Key Points:<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Context of the Relaxation:<\/strong><br>The relaxation has been introduced to address the challenges faced by taxpayers in situations where the deductee or collectee passed away before they could link their PAN with Aadhaar by the deadline of May 31, 2024.<\/li>\n\n\n\n<li><strong>Impact of the Circular:<\/strong><br>The Circular states that in such cases, there will be no obligation on the part of the deductor (the entity responsible for deducting TDS) or the collector (the entity responsible for collecting TCS) to deduct or collect tax under Section 206AA\/206CC of the Income-tax Act for transactions carried out up to March 31, 2024.<\/li>\n\n\n\n<li><strong>Previous Circular Reference:<\/strong><br>This Circular follows Circular No. 6 of 2024, issued on April 23, 2024, which had extended the deadline for linking PAN with Aadhaar to May 31, 2024, to help taxpayers avoid higher TDS\/TCS rates.<\/li>\n<\/ol>\n\n\n\n<p>The Circulars mentioned (No. 6 and No. 8 of 2024) can be accessed on the official Income Tax Department website: <a href=\"https:\/\/www.incometaxindia.gov.in\/\">www.incometaxindia.gov.in<\/a>.<\/p>\n\n\n\n<p>Read More:- <a href=\"https:\/\/caalokkumar.com\/my-writing\/new-msmes-support-fund-launched-in-union-budget-2024-25\/\">New MSME Support Fund Launched in Union Budget 2024-25 to Address 45-Day Payment Rule Challenges<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/itrkendra.com\/income-tax-return-filing\">Income Tax Return Filing in Dwarka<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/gstkendra.com\/gst-registration.html\">GST Registration in Dwarka<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/wealth4india.com\/private-limited-company.php\">Company Registration in Dwarka delhi<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/itrkendra.com\/online-networth-certificate\">Networth Certificate in Dwarka Delhi<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Board of Direct Taxes (CBDT) has issued Circular No. 8 of 2024 on August 5, 2024, providing relief regarding the provisions of Tax Deducted at Source (TDS) and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":970,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,4,460,461,272,192,462],"tags":[470,574,366,280,276,66],"class_list":["post-969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-income-tax","category-income-tax-act-1961","category-non-filing-of-tds-return","category-quarterly-tds-returns","category-tcs-certificate","category-tds-on-salary-income","category-tds-payment-reconciliation","tag-file-the-tds-return","tag-linking-pan-and-aadhaar","tag-pan","tag-tax-deducted-at-source","tag-tcs","tag-tds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>TDS\/TCS in event of death of deductee\/collectee, before linkage of PAN and Aadhaar<\/title>\n<meta name=\"description\" content=\"CBDT eases TDS\/TCS 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