In the ‘Latest Updates’ Tab in the Income Tax Portal, the following message was displayed by the Department, “Attention Tax Deductors/ Collectors!! Deductees/Collectors having PAN status as ‘Inoperative’ attract higher TDS/TCS rates applicable as per provisions of Section 206AA/ 206CC of Income Tax Act. Please refer CBDT Notification no 15/2023 and Circular no 3/2023 dated 28th March 2023. The status of PAN can be checked by clicking the link ‘Verify PAN Status’ available under the quick links.”
This information, displayed prominently in the ‘Latest Updates’ Tab, emphasizes the significance of compliance with Section 206AA/206CC of the Income Tax Act.
Taxpayers are urged to refer to CBDT Notification no 15/2023 and Circular no 3/2023 dated 28th March 2023 for comprehensive details on the revised rates and procedures.
Read Also: You can Claim Refund of Higher TDS Deducted due to non-linking of PAN-Aadhaar
The alert directs deductors/collectors to check the status of PAN by clicking the link ‘Verify PAN Status,’ conveniently available under the quick links on the portal. Non-compliance with the updated provisions may result in higher deductions, emphasizing the importance for tax deductors and collectors to verify and update PAN information promptly.
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