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CBDT has extended the date for filing Form 10A/10AB till June 30, 2024. The Central Board of Direct Taxes (CBDT) has said in an order that the due date for filing Form 10A/Form 10AB under the Income Tax Act 1961 (Act) has been extended till June 30.
CBDT had earlier extended the due date of filing Form 10A/Form 10AB by trusts, institutions and fund houses several times to ease the genuine hardships of the taxpayers. The last such extension was made vide Circular No. 06/2023, wherein the date was extended to 30.09.2023.
Circular was issued yesterday also
Yesterday, CBDT had warned PAN card holders in its circular. It was said that for transactions done till March 31, 2024 and in cases where PAN has been activated due to linking with Aadhaar on or before May 31, There will be no obligation to cut taxes in 2024. Sandeep Sehgal, Partner-Tax, AKM Global, said the circular provides some relief to taxpayers in cases where the taxpayer's PAN is found to be inoperative due to not being linked with Aadhaar.
31st May last date
The Income Tax Department has said that if taxpayers link their PAN with Aadhaar by May 31, then no action will be taken on short deduction of TDS, but action will be taken after that. As per Income Tax rules, if PAN is not linked to biometric Aadhaar, TDS will be deducted at double the applicable rate. The Central Board of Direct Taxes (CBTD) said it has received several complaints from taxpayers that they are receiving notices stating that they have defaulted in short deduction/collection of TDS/TCS.
Let us tell you that ITR filing has started. Its last date is 31 July 2024. The Income Tax Department, in its order issued a few days ago, had appealed to the taxpayers to file ITR before time.