Income Tax : Understand the penalties, interest, and disallowance of expenditure under Section 201 for failure to comply with TDS provisions in...
Income Tax : Learn about TDS on property purchase under Section 194IA of the Income Tax Act, 1961. Get insights on requirements, payment proces...
Income Tax : Learn about the due dates for TDS and TCS payments, returns, and consequences for late filing, deduction, and payment under the In...
Income Tax : TDS Certificates can be used to claim TDS income even in case of mismatch in Form 26AS. Read this blog post to find out how to use...
Income Tax : Karnataka High Court in the case of Fatheraj Singhvi vs. Union of India , WRIT APPEAL NOS.2663-2674/2015(T-IT)- dated 26/08/2016 ...
Income Tax : Bombay Chartered Accountants' Society has made a Representation on 'Suggestions for Amendments in the Income Tax Act', on 24th May...
Income Tax : RECOMMENDATION FOR REDUCING THE FEE UNDER SECTION 234E FOR DEFAULT IN FURNISHING STATEMENTS OF TDS AND TCS FROM RS.200/- PER DAY T...
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 t...
Income Tax : The tribunal held that no late fee under Section 234E can be imposed for periods prior to 1 June 2015 due to absence of enabling p...
Income Tax : The issue involved levy of late fees on TDS returns processed before statutory amendment. The Tribunal held that absence of enabli...
Income Tax : ITAT Hyderabad held that the Supreme Court’s COVID-19 limitation extensions apply only to judicial and quasi-judicial proceeding...
Income Tax : The ITAT Raipur held that prior to 1 June 2015, there was no enabling provision under Section 200A to levy late filing fees under ...
Income Tax : The Tribunal ruled that failure to examine whether payees discharged tax liability vitiates proceedings under Section 201. The cas...
Income Tax : The Board is examining the desirability and expediency of prescribing situation/circumstances under which levy of fee under Sectio...
Income Tax : CBDT Circular No. 07/2014 All Chief Commissioners of Income-tax All Directors General of Income-tax Sub: Ex-post facto extensi...
Income Tax : In exercise of powers conferred under section 119 of the Income tax Act, 1961, the Central Board of direct Taxes, in continuation ...
Income Tax : Circular no. 8/2012-Income Tax The present Circular contains the rates of deduction of income-tax from the payment of income char...
Garrison Engineer (E/M) Vs JCIT (TDS) (ITAT Agra) The common issue involved in these appeals is that the AO imposed late fees u/s 234E of the Act., where the enabling clause (c) was inserted in the section 200A w.e.f. 01.06.2015. Which has been confirmed by the Ld. CIT(A) relying on the of Hon’ble Gujarat High […]
Shri Bhaskar Roy Vs ITO (TDS) (ITAT Kolkata) ITAT held that demand raised by the Income Tax Authorities for levying late fee u/s. 234E of the Act for the period prior to 01.06.2015 cannot be sustained and we order accordingly. However, we hasten to add that Hon’ble Karnataka High Court while passing the order had […]
Tax deductor and the tax collector is liable to furnish required quarterly statements (returns) under the Income Tax Act. In case of default in furnishing the said statements, late fees will be payable under section 234E of the Income Tax Act. The current article briefly explains the provisions of such late fees payable under section […]
Raj Veer Singh Vs ACIT (ITAT Delhi) We are of the considered view that no doubt provisions contained u/s 234E under which late fee has been levied for defaults of period in filing the TDS/TCS statements/returns but coordinate Benches of the Tribunal have followed one approach, though there are conflicting decisions of different High Courts […]
DID you KNOW – Interest, Late Fees and Penalty under TDS PROVISION? Here is attached summary file that will help you to solve your problem related default made in TDS that will result in to LATE fees under section 234E, Interest and Penalty under TDS provision. Interest, Late Fees and Penalty under TDS provision This […]
Ram Niwas Agarwal Vs ITO (ITAT Bangalore) It is not in dispute that if the ratio laid down by the Hon’ble Karnataka High Court in the case of Fateeraj Singhvi (supra) is applied then the levy of interest u/s.234-E of the Act would be illegal for returns of TDS in respect of the period prior […]
ITO Vs Ajmer Vidhyut Vitran Nigam Ltd (ITAT Jaipur) Exception 10(e) to the aforesaid CBDT Circular relates to cases where addition is based on information received from external sources in the nature of law enforcement agencies such as CBI/ ED/ DRI/ SFIO/ Directorate General of GST Intelligence (DGGI). In the instant case, the assessee has […]
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?
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 […]
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 landmark finding on retrospective […]
