Due to increase in surcharge rate by the Finance (no. 2) Act, 2019, w.e.f., July 05, 2019, various deductors/collectors were held to be an assessee-in-default for shorter deduction/collection of taxes. The CBDT has clarified that deductor shall not be considered as assessee-in-default in respect of those transactions which was completed and payment was made on or before July 05, 2019.
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