Income Tax Department to crack down on 40,000 TDS/TCS defaulters

The Income Tax Department is planning crackdown on individuals and businesses failing to deduct & deposit TDS/TCS, officials said. Nearly 40,000 taxpayers are being examined based on tax deductions claimed during the financial years 2022-23 and 2023-24, a report said. The focus will reportedly be on habitual violators, cases showing significant gaps between tax deductions and advance tax payments.