Section 271C

Penalties and Prosecutions Under Income tax Act, 1961

Income Tax - Penalties and Prosecutions Default in complying with provisions of or with conditions prescribed under the Income-tax Act would attract certain penalty and in critical cases prosecutions as well. The document will provide you information about the punishable offences, prosecutions and the quantum of penalties that can be imposed under the...

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Prosecutions and Punishment under Income-Tax Act, 1961

Income Tax - Apart from penalty for various defaults, the Income-tax Act also contains provisions for launching prosecution proceedings against the taxpayers for various offences. In this part you can gain knowledge about the various provisions relating to prosecution which can be launched under the Income-tax Act....

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All about Income Tax Offences liable to prosecution

Income Tax - Apart from levy of penalty for various defaults by the taxpayer, the Income-tax Law also contains provisions for launching prosecution for offences committed by the taxpayer. In this part you can gain knowledge about offences in respect of which prosecutions can be launched under the Income-tax Law. For provisions relating to punishment c...

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Power of Commissioner to Reduce or Waive Income Tax Penalty

Income Tax - In the tutorial on Penalties Under the Income-tax Act, we discussed various penalties imposable under the Income-tax Act in respect of various defaults. Apart from enacting penalty provisions...

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Penalties under the Income-Tax Act, 1961

Income Tax - Under the Income-tax Act, penalties are levied for various defaults committed by the taxpayer. Some of the penalties are mandatory and a few are at the discretion of the tax authorities. In this part, you can gain knowledge about the provisions relating to various penalties leviable under the Income-tax Act....

Read More
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Penalty U/s. 271C cannot be imposed for updation error in software

State Bank of India Vs. Addl. CIT-(TDS) (ITAT Agra) - Assessee cannot be considered as having done willful neglect for non-compliance of the TDS provisions. This is just a technical mistake and, accordingly, the assessee cannot be held to be an assessee in default and no penalty can be imposed....

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No Penalty for Short-Deduction of TDS due to bonafide confusion

Shapoorji Pallonji and Co.(P) Ltd. Vs. J.C.I.T. (TDS) (ITAT Kolkata) - While allowing the appeal filed by the assessee Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently declared that penalty under Section 271C of the Income Tax Act would not attract when there is a short deduction of tax due to bonafied confusion. ...

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Penalty not justified for non-deduction of TDS on Lease rent due to Reasonable Cause

Addl. CIT (TDS) Vs The Principal Officer (ITAT Delhi) - Section 273B of the Act provides that in case of a reasonable cause, penalty otherwise exigible, inter alia, u/s 271C of the Act, cannot be imposed. ...

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Penalty u/s 271C can be levied for non-deduction of TDS and not for delayed deduction of TDS

ITO Vs. M/s Liver Foundation (ITAT Kolkata) - The Income Tax Appellate Tribunal, Kolkata bench recently ordered that the penalty u/s 271C of the Income Tax Act cannot be levied for the delayed deduction of TDS amount....

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TDS U/s. 194H not applicable on Bank Guarantee Commission

Addl CIT Vs Jaypee Agra Vikas Ltd (ITAT Delhi) - The contract of guarantee does not give any rise to principal - agent relationship between the assessee and the bank and, therefore, the consideration received by the bank on account of guarantee commission cannot be reckoned as commission as contemplated under section 194H and accordingly, there wa...

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Recent Posts in "Section 271C"

Penalties and Prosecutions Under Income tax Act, 1961

Penalties and Prosecutions Default in complying with provisions of or with conditions prescribed under the Income-tax Act would attract certain penalty and in critical cases prosecutions as well. The document will provide you information about the punishable offences, prosecutions and the quantum of penalties that can be imposed under the...

Read More
Posted Under: Income Tax |

Prosecutions and Punishment under Income-Tax Act, 1961

Apart from penalty for various defaults, the Income-tax Act also contains provisions for launching prosecution proceedings against the taxpayers for various offences. In this part you can gain knowledge about the various provisions relating to prosecution which can be launched under the Income-tax Act....

Read More
Posted Under: Income Tax |

All about Income Tax Offences liable to prosecution

Apart from levy of penalty for various defaults by the taxpayer, the Income-tax Law also contains provisions for launching prosecution for offences committed by the taxpayer. In this part you can gain knowledge about offences in respect of which prosecutions can be launched under the Income-tax Law. For provisions relating to punishment c...

Read More
Posted Under: Income Tax | ,

Power of Commissioner to Reduce or Waive Income Tax Penalty

In the tutorial on Penalties Under the Income-tax Act, we discussed various penalties imposable under the Income-tax Act in respect of various defaults. Apart from enacting penalty provisions...

Read More
Posted Under: Income Tax | ,

Penalties under the Income-Tax Act, 1961

Under the Income-tax Act, penalties are levied for various defaults committed by the taxpayer. Some of the penalties are mandatory and a few are at the discretion of the tax authorities. In this part, you can gain knowledge about the provisions relating to various penalties leviable under the Income-tax Act....

Read More
Posted Under: Income Tax | ,

Penalty U/s. 271C cannot be imposed for updation error in software

State Bank of India Vs. Addl. CIT-(TDS) (ITAT Agra)

Assessee cannot be considered as having done willful neglect for non-compliance of the TDS provisions. This is just a technical mistake and, accordingly, the assessee cannot be held to be an assessee in default and no penalty can be imposed....

Read More

No Penalty for Short-Deduction of TDS due to bonafide confusion

Shapoorji Pallonji and Co.(P) Ltd. Vs. J.C.I.T. (TDS) (ITAT Kolkata)

While allowing the appeal filed by the assessee Kolkata bench of Income Tax Appellate Tribunal (ITAT) recently declared that penalty under Section 271C of the Income Tax Act would not attract when there is a short deduction of tax due to bonafied confusion. ...

Read More

Penalty not justified for non-deduction of TDS on Lease rent due to Reasonable Cause

Addl. CIT (TDS) Vs The Principal Officer (ITAT Delhi)

Section 273B of the Act provides that in case of a reasonable cause, penalty otherwise exigible, inter alia, u/s 271C of the Act, cannot be imposed. ...

Read More

Penalty u/s 271C can be levied for non-deduction of TDS and not for delayed deduction of TDS

ITO Vs. M/s Liver Foundation (ITAT Kolkata)

The Income Tax Appellate Tribunal, Kolkata bench recently ordered that the penalty u/s 271C of the Income Tax Act cannot be levied for the delayed deduction of TDS amount....

Read More

TDS U/s. 194H not applicable on Bank Guarantee Commission

Addl CIT Vs Jaypee Agra Vikas Ltd (ITAT Delhi)

The contract of guarantee does not give any rise to principal - agent relationship between the assessee and the bank and, therefore, the consideration received by the bank on account of guarantee commission cannot be reckoned as commission as contemplated under section 194H and accordingly, there was no requirement to deduct TDS on this p...

Read More
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