CBDT says collector of tax won't be considered assessee

The Central Board of Direct Taxes (CBDT) on Monday issued a circular, clarifying that the collector of tax will not be considered assessee in default under certain conditions.

The Central Board of Direct Taxes (CBDT) on Monday issued a circular, clarifying that the collector of tax will not be considered assessee in default under certain conditions.

"Several cases have come to the notice of the Central government wherein deductors/collectors were held to be an assessee in default for short deduction of TDS/short collection of TCS in cases where the final transaction was done before laying of the Finance (No. 2) Bill, 2019 in the Parliament on July 5, 2019," reads the circular.

On this, the CBDT said: "Deductor/collector of tax not to be considered assessee in default under certain conditions." (ANI)