Income Tax : The CBDT received representations about technical glitches in TDS/TCS payments, causing delays in crediting the Central Government despite timely debits. Taxpayers have received interest notices under sections 201(1A)(ii)/206C(7). The board has directed CCIT to reduce or waive such interest. (29.03.2025)

Income Tax

The CBDT received representations about technical glitches in TDS/TCS payments, causing delays in crediting the Central Government despite timely debits. Taxpayers have received interest notices under sections 201(1A)(ii)/206C(7). The board has directed CCIT to reduce or waive such interest.

Circular No. 5/2025 dated 28.03.25