CBDT Amends Form 27Q | Added ‘Note 7A’ for Furnishing Information About Lower or No TDS u/s 197A
- Blog|News|Income Tax|
- < 1 minute
- By Chetan Kulasri
- |
- Last Updated on 3 June, 2024
Latest from Taxmann
Notification No. 48/2024, dated, 31-05-2024
The Central Government has notified the Income-tax (Sixth Amendment) Rules, 2024. As per the amended norms, an additional ‘Note’ has been inserted in Form No. 27Q. The additional note pertains to the verification section of the form. Taxpayers are now required to write “P” if a lower deduction or no deduction is in view of the notification issued u/s 197A(1F).
Section 197(1F) provides that tax shall not be deducted for payments to certain persons or classes of persons, including institutions, associations, or bodies, as specified by the Central Government in the Official Gazette.
Click Here To Read The Full Notification
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
CA | CS | CMA
