Circular No. 5/2025 — Waiver of interest u/s 201(1A)/206C(7) for delayed TDS/TCS
Date: 2025-03-28 Status: ACTIVE Category: TDS / TCS Binding on Department: Yes (Section 119 / Section 400 IT Act 2025)
Summary
Guidelines for waiver of interest levied for delayed deposit of TDS/TCS. Specifies conditions for PCIT/CIT to consider waiver applications.
Key Directions
- Waiver may be considered where delay was due to genuine hardship or circumstances beyond control.
- Application to be filed before PCIT/CIT with supporting evidence.
- Partial waiver also permissible based on facts of each case.
Applicability Under IT Act 2025
Saving Clause: Section 536 of IT Act 2025 saves circulars issued under the 1961 Act “so far as not inconsistent” with the new Act.
| Old Section (1961 Act) | New Section (2025 Act) | Consistent? |
|---|---|---|
| 201(1A) | — | Needs Review |
| 206C(7) | — | Needs Review |
Cross-References
Act Sections
Related Circulars
- None identified
Key Case Law (Circular Supremacy)
- To be populated — cases where this circular was cited/applied
Full Text
Full text to be added — see raw/circulars/ for PDF when available
Source
- Official: incometaxindia.gov.in/circulars