Applicable Act/Rule Income Tax Act, 2025
Applicable Section/Rule Section 397(3)(f)
Section 397(3)(f) of the Income Tax Act, 2025 provides a revised time limit for correction of errors in TDS/TCS statements by deductors.
The provision specifies that the time limit available to deductors, including employers, companies, and vendors, for making corrections in TDS/TCS statements is reduced to two years. It states that if corrections are not made within this period, such errors may remain uncorrected. The applicability relates to TDS/TCS statements filed by deductors. The impact is on deductees whose tax credit depends on accurate and timely correction of such statements
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