https://www.taxtmi.com/article/detailed?id=8697 Returns claiming TDS/TCS credit need extra time and procedural flexibility because taxpayers must reconcile income with Form 26AS and pursue remedial steps where credits are delayed; delays in TDS/TCS reflection can create advance tax shortfalls and interest exposure. Where taxpayers' final position is refund or no further tax, postponing filing deadlines imposes no revenue loss, reduces revised returns and disputes, and avoids penalising taxpayers for third party reporting failures. Assessing officers and processing units should be empowered to extend due dates or condone delay, and penalties or late fees should be waived where returns are ultimately correct. en-us Wed, 28 Aug 2019 07:05:36 +0530 Wed, 28 Aug 2019 07:05:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8697 Returns claiming TDS/TCS credit need extra time and procedural flexibility because taxpayers must reconcile income with Form 26AS and pursue remedial steps where credits are delayed; delays in TDS/TCS reflection can create advance tax shortfalls and interest exposure. Where taxpayers' final position is refund or no further tax, postponing filing deadlines imposes no revenue loss, reduces revised returns and disputes, and avoids penalising taxpayers for third party reporting failures. Assessing officers and processing units should be empowered to extend due dates or condone delay, and penalties or late fees should be waived where returns are ultimately correct. Articles Income Tax Wed, 28 Aug 2019 07:05:36 +0530 https://www.taxtmi.com/article/detailed?id=8697