Representative Image | Photo: Manish Chemancherry
Kottayam: The income tax department has decided to exempt lottery agents from the payment of Tax Collection at Source (TCS) dues for the period October 2020 till March 2021.
The decision was taken following talks held between the lottery director and the income tax commissioner.
As part of this, a certificate corresponding to Form 27BA of the income tax return, submitted by the lottery agents for the financial year 2020-21, should be certified by a chartered accountant and given to the lottery department.
Later, it will be forwarded to the income tax department and the arrears will be cleared. The income tax department had earlier asked the agents to pay the tax arrears of 2020.
As per the demand, agents who sold lottery tickets for more than Rs 50 lakh, during the period between October 1, 2020 and March 31, 2021 were asked to pay their tax dues.
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