Income-tax amendment: certain payers exempted from applying for a tax deduction and collection account number from Oct 1, 2026. The amendment exempts specified deductors from the obligation to apply for a tax deduction and collection account number, specifically: persons required to deduct under certain entries of section 393(1); persons covered by section 393(4) when deducting on transfer of virtual digital assets; resident individuals and HUFs deducting on transfer of immovable property under section 393(2); and persons notified by the Central Government.
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Income-tax amendment: certain payers exempted from applying for a tax deduction and collection account number from Oct 1, 2026.
The amendment exempts specified deductors from the obligation to apply for a tax deduction and collection account number, specifically: persons required to deduct under certain entries of section 393(1); persons covered by section 393(4) when deducting on transfer of virtual digital assets; resident individuals and HUFs deducting on transfer of immovable property under section 393(2); and persons notified by the Central Government.
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