Tax Deducted at Source: clarification on issue of TDS/TCS certificate
The income tax department issue the clarification on TDS/TCS certificates related query.
Department said: theoutbreak of the Covid-19 pandemic, and in order to mitigate the hardships of taxpayers, the CBDT had issued the directions/clarifications by exercise of its power u/s 119 of the Income-tax Act, 1961 (the Act). The recent clarifications are in response to certain representations made by the taxpayers and those who deduct TDS.
this is for the Threshold/transaction limit mentioned in lower/nil deduction/collection certificate issued for FY 2019-20 if tax certificate was issued from a period from 1st Oct 2019 to 15th aoct 2019, the same will be valid for FY 2019-20 for the period from 1.oct.2019 to 15.dec.2019 and for FY 2020-21,
Thia is the same shall be valid from Apr20 to Jun.2020 subject to conditions mentioned in the Order dated 30.march.2020.