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        Bills

        Widening ambit of section 200A of the Act for processing of statements other than those filed by deductor (TAX ADMINISTRATION)

        24 July, 2024

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        Union Budget 2024-25 (Full) + FINANCE (No.2) Bill, 2024

        Section 200A of the Act provides for the manner in which statement of tax deduction at source or a correction statement made by a person deducting any sum under section 200 shall be processed.

        2. There are statements, such as Form No. 26QF which is filed by an Exchange wherein the deductee is filing details of the tax. It is proposed to widen the ambit of section 200A of the Act to state that in respect of statements which have been made by any other person, not being a deductor, the Board may make a scheme for processing of such statements

        3. The amendment will take effect from the 1st day of April, 2025.

        [Clause 68]

        Full Text:

        Union Budget 2024-25 (Full) + FINANCE (No.2) Bill, 2024

        Expanded TDS statement processing allows tax board to scheme for processing statements filed by non-deductors. Amendment expands the scope of Section 200A to permit the Board to make a scheme for processing statements of tax deduction or correction statements filed by persons other than the deductor, addressing filings like exchange-submitted statements where the deductee provides tax details, with effect from the first day of April, 2025.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Expanded TDS statement processing allows tax board to scheme for processing statements filed by non-deductors.

                              Amendment expands the scope of Section 200A to permit the Board to make a scheme for processing statements of tax deduction or correction statements filed by persons other than the deductor, addressing filings like exchange-submitted statements where the deductee provides tax details, with effect from the first day of April, 2025.


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