Section 234E

TDS Certificates – Detailed Discussion

Income Tax - As we all are aware that the TDS return process will consider as incomplete until the Valid TDS certificate has been issued by the deductor. Now if we focus on the word Valid TDS Certificate, it means Form 16/ Form 16A issued by authenticated authority. As on the current date the TRACES have the authorisation […]...

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TDS implication on purchase of property from NRI

Income Tax - It is essential to note that in case of purchase of property, the buyer is responsible for deducting the applicable tax at source (i.e. TDS) and deposit the same with the Government. Since the buyer is required to deduct the TDS, he would obviously be required to fulfil all the relevant compliance like TDS payment; […]...

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Consequences of TDS defaults under Income Tax Act 1961

Income Tax - TDS/TCS compliances is one of the major compliance under Income Tax Act, 1961 and has a wide scope of its applicability to the business organizations. Small businesses are not much aware of the overall implications of non compliances of the TDS/ TCS provisions and ends up in paying the higher penal charges due to not following the deadlin...

Read More

All about TDS returns

Income Tax - So the due date for filing of TDS return for 4th quarter (Jan 15-Mar 15) is 15th May 2015 which is about to come. As TDS return is required to be submitted electronically in some cases which can be prepared with the help of return preparation utility, to make this cumbersome process an easy one govt. has introduced a TDS Return Preparatio...

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TDS on sale of Immovable Property- CPC issuing intimation for late TDS deposit

Income Tax - In its latest move to penalise late payers of TDS, the CPC TDS has started issuing intimation u/s 200A of the Income Tax Act’1961 to the deductors u/s 194IA i.e the buyers of property who have paid TDS U/s 194IA late. The CPC TDS is not only charging interest u/s 201 but also late fee u/s 234E of the Act....

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6 Suggestions for Amendments in Income Tax Act by BCAS

Income Tax - Bombay Chartered Accountants' Society has made a Representation on 'Suggestions for Amendments in the Income Tax Act', on 24th May, 2019, to the Joint Secretary TPL, Central Board of Direct Taxes, Ministry of Finance, Government of India....

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Reduce fee u/s. 234E from Rs.200/- per day to Rs.100/- per day

Income Tax - RECOMMENDATION FOR REDUCING THE FEE UNDER SECTION 234E FOR DEFAULT IN FURNISHING STATEMENTS OF TDS AND TCS FROM RS.200/- PER DAY TO RS.100/- PER DAY The levy of mandatory fee u/s. 234E at the rate of Rs.200/- per day for default in furnishing of Statements of TDS u/s. 200(3) and TCS u/s. 206C(3) has been […]...

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Incomplete TDS certificates issued by deductor delaying Income tax refunds

Income Tax - Many Taxpayers had a tough time getting a refund of the tax deducted against his fixed deposits with public sector banks, as the tax deduction at source (TDS) certificates issued to them by the banks did not mention there permanent account number (PAN). Depositors of banks and post offices — especially pensioners — are put to a lot o...

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If two Constructions are Possible then one in Favour of Assessee should be Applied

Popular Catering Services Vs DCIT (ITAT Mumbai) - The issue under consideration is whether late fee u/s 234E can be levied prior to 1.6.2015 i.e. prior to enactment of section 234E?...

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Section 234E Late filing fees for TDS return is Mandatory: ITAT

Block Development Officer Vs ACIT (ITAT Jaipur) - The issue under consideration is whether the late filing fees for TDS return u/s 234E is mandatory in nature or it can be condone if there is reasonable cause?...

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Amendment in Section 200A dated 01.06.2015 are prospective

Keshav Industries Pvt. Ltd. Vs. ITO-TDS (ITAT Indore) - Keshav Industries Pvt. Ltd. Vs ITO-TDS (ITAT Indore) Amendment dated 01.06.2015 in Section 200A of the Income Tax Act, 1961 is prospective in nature and cannot be applied retrospectively to previous TDS instances The ITAT Indore in Rajendra Prasad Tiwari (through Aakash Tiwari) Vs. Income Tax Depar...

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Section 234E late fees leviable despite existence of reasonable cause

Government Secondary School Principal Officer Vs ACIT, CPC-TDS (ITAT Jaipur) - Government Secondary School Principal Officer Vs ACIT (ITAT Jaipur) The issue under consideration is whether the late filing fees u/s 234E can be deleted if there is a ‘reasonable cause’ for such default? In the present case, the assessee is the Principal of Secondary School and responsible for ...

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Section 234E is not violative of Constitution of India: Madras HC

Qatalys Software Technologies Private Limited Vs Union of India (Madras High Court) - Qatalys Software Technologies Private Limited Vs Union of India (Madras High Court) Revenue is right in contending that Section 234 (E) of the Act is not a penalty. Penalty is levied under Section 271 (H) and is not automatic. Penalty is levied only when tax is deducted at source along with interes...

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Suggest Situation justifying waiver of Section 234E fee : CBDT

F. No. 275/27/2013-IT (B) - (02/08/2016) - The Board is examining the desirability and expediency of prescribing situation/circumstances under which levy of fee under Section 234E may cause genuine hardship to the taxpayers, so as to prescribe guidelines for waiver of such fees by virtue of the powers of the Board under Section 119(2)(a) of ...

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CBDT extends due of TDS/TCS statement for Govt. deductees – No Refund of Fees Paid U/s. 234E

Circular No. 07/2014 - Income Tax - (04/03/2014) - CBDT Circular No. 07/2014 All Chief Commissioners of Income-tax All Directors General of Income-tax Sub: Ex-post facto extension of due date for filing TDS/TCS statements for FYs 2012-13 and 2013-14 – regarding The Central Board of Direct Taxes ('the Board') has received several petitions f...

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Tax audit & ROI due date extended to 31.10.2013 for A.Y. 2013-14

Order under Section 119 - F. No. 225/117/ 2013/ ITA.II - (24/10/2013) - In exercise of powers conferred under section 119 of the Income tax Act, 1961, the Central Board of direct Taxes, in continuation to order u/s 119 dated 26.09.2013 in F. No. 225/117/2013/ITA.II, hereby directs that in cases where the ‘due date’ of furnishing reports of audit and corresponding in...

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How to Calculate TDS on Salary – AY 2013-14 / FY 2012-13

Circular No. 8/2012-Income Tax - (05/10/2012) - Circular no. 8/2012-Income Tax The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head Salaries during the financial year 2012-13 and explains certain related provisions of the Income-tax Act, 1961 (hereinafter the Act) and Income-tax ...

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Recent Posts in "Section 234E"

If two Constructions are Possible then one in Favour of Assessee should be Applied

Popular Catering Services Vs DCIT (ITAT Mumbai)

The issue under consideration is whether late fee u/s 234E can be levied prior to 1.6.2015 i.e. prior to enactment of section 234E?...

Read More

TDS Certificates – Detailed Discussion

As we all are aware that the TDS return process will consider as incomplete until the Valid TDS certificate has been issued by the deductor. Now if we focus on the word Valid TDS Certificate, it means Form 16/ Form 16A issued by authenticated authority. As on the current date the TRACES have the authorisation […]...

Read More
Posted Under: Income Tax | ,

Section 234E Late filing fees for TDS return is Mandatory: ITAT

Block Development Officer Vs ACIT (ITAT Jaipur)

The issue under consideration is whether the late filing fees for TDS return u/s 234E is mandatory in nature or it can be condone if there is reasonable cause?...

Read More

Amendment in Section 200A dated 01.06.2015 are prospective

Keshav Industries Pvt. Ltd. Vs. ITO-TDS (ITAT Indore)

Keshav Industries Pvt. Ltd. Vs ITO-TDS (ITAT Indore) Amendment dated 01.06.2015 in Section 200A of the Income Tax Act, 1961 is prospective in nature and cannot be applied retrospectively to previous TDS instances The ITAT Indore in Rajendra Prasad Tiwari (through Aakash Tiwari) Vs. Income Tax Department, had on 14/07/2020 brought a landm...

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Section 234E late fees leviable despite existence of reasonable cause

Government Secondary School Principal Officer Vs ACIT, CPC-TDS (ITAT Jaipur)

Government Secondary School Principal Officer Vs ACIT (ITAT Jaipur) The issue under consideration is whether the late filing fees u/s 234E can be deleted if there is a ‘reasonable cause’ for such default? In the present case, the assessee is the Principal of Secondary School and responsible for deducting tax at source, depositing the ...

Read More

TDS implication on purchase of property from NRI

It is essential to note that in case of purchase of property, the buyer is responsible for deducting the applicable tax at source (i.e. TDS) and deposit the same with the Government. Since the buyer is required to deduct the TDS, he would obviously be required to fulfil all the relevant compliance like TDS payment; […]...

Read More
Posted Under: Income Tax | ,

Consequences of TDS defaults under Income Tax Act 1961

TDS/TCS compliances is one of the major compliance under Income Tax Act, 1961 and has a wide scope of its applicability to the business organizations. Small businesses are not much aware of the overall implications of non compliances of the TDS/ TCS provisions and ends up in paying the higher penal charges due to not following the deadlin...

Read More
Posted Under: Income Tax |

All about TDS returns

So the due date for filing of TDS return for 4th quarter (Jan 15-Mar 15) is 15th May 2015 which is about to come. As TDS return is required to be submitted electronically in some cases which can be prepared with the help of return preparation utility, to make this cumbersome process an easy one govt. has introduced a TDS Return Preparatio...

Read More
Posted Under: Income Tax |

TDS on sale of Immovable Property- CPC issuing intimation for late TDS deposit

In its latest move to penalise late payers of TDS, the CPC TDS has started issuing intimation u/s 200A of the Income Tax Act’1961 to the deductors u/s 194IA i.e the buyers of property who have paid TDS U/s 194IA late. The CPC TDS is not only charging interest u/s 201 but also late fee u/s 234E of the Act....

Read More
Posted Under: Income Tax | ,

Fees & Penalty for late / Non filing of TDS Return

No filing or Late filing of TDS returns or TDS statement shall invite 2 penal consequence 1.Fee for late filing U/s 234E and 2. Penalty for late filing or Non filing of TDS statement U/s 271H....

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Posted Under: Income Tax | ,

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