April 21, 2026
Submitted By: Shristi Rajput
Circular No.8/2020 Clarification regarding short deduction on TDS/TCS due to increase in rates of surcharge by finance Act
Circular No. 8/2020 clarifies that no penalty or disallowance will apply for short deduction/collection of TDS/TCS arising solely due to the increase in surcharge rates by the Finance Act, provided the tax is deducted/collected at the previous applicable rates.
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