Amendments in Income-tax Rules for Ease in Claiming Credit for TCS Collected/TDS Deducted for Salaried Employees and for claiming TCS Credit of Minors in the Hands of Parents

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CBDT Notifies Amendments in Income-tax Rules for Ease in Claiming Credit for TCS Collected/TDS Deducted for Salaried Employees and for claiming TCS Credit of Minors in the Hands of Parents.

✅CBDT Notification No. 114/2024 dated 16.10.2024 issued.

✅Rule 37-I of the Income-tax Rules amended to allow credit of tax collected at Source to a person other than the collectee, in whose hands the income of the collectee is assessable.

✅Notifications available at https://incometaxindia.gov.in/communications/notification/notification-114-2024.pdf