Income Tax : A summary of key penalties under the Income Tax Act for AY 2026-27, covering defaults from late filing and non-payment to misrepor...
Income Tax : Understand the penalties, interest, and disallowance of expenditure under Section 201 for failure to comply with TDS provisions in...
Income Tax : Simplified penalty timelines under Section 275 effective April 2025, including changes in penalty powers, omissions, and clarifica...
Income Tax : Income Tax Act amendments propose penalties by Assessing Officers instead of Joint Commissioners. Omission of section 271BB and ch...
Income Tax : Post-Finance Bill 2025, penalties under specified sections of the Income-tax Act will be levied by the Assessing Officer, with Joi...
Income Tax : ITAT Delhi held that territorial jurisdiction depends on the location of the Assessing Officer handling the assessment. Since the ...
Income Tax : ITAT Raipur held that penalty proceedings initiated after unreasonable delay violated the statutory limitation prescribed under Se...
Income Tax : Orissa High Court held that assessment order set aside as proceedings under section 148 of the Income Tax Act initiated without se...
Income Tax : ITAT Chandigarh upheld penalty under Section 271C as exemption under Section 10(5) applies only to travel within India, requiring ...
Income Tax : The Tribunal held that revision under Section 263 is invalid where the Assessing Officer examined records and adopted a plausible ...
ITAT Indore held that non-deduction of TDS due to genuine and bona fide belief is reasonable cause under section 273B and accordingly penalty u/s 271C not imposable.
ITAT Jaipur held that being a debatable issue there was a reasonable cause for non-deduction of TDS on specified transactions and accordingly penalty under section 271C of the Income Tax Act not justified.
No penalty is envisaged under Section 271C of the Income Tax Act for non-deduction and for belated remittance /payment/deposit of the TDS.
SC held that no penalty shall be leviable under Section 271C of Income Tax Act for mere belated remittance of TDS after deducting
ITAT Dehradun held that Uttarakhand Environment Protection and Pollution Control Board (UEPPCB) is a corporation which has been constituted under a Central Act, no tax was deductible. Accordingly, penalty u/s 271C of the Income Tax Act cannot be levied on a non-taxable entity.
No TDS is required to be deducted on EDC payments made to HUDA, as these payments were made on the directions of DTCP which are deposited with the Consolidated Fund of State,
It is proposed to amend section 271C inserting two new sub-clauses under clause (b) in sub-section (1) providing reference to the first proviso to section 194R and the first proviso to section 194S. Similar amendments are also proposed in section 276B.
Sirur Developers Pvt. Ltd. Vs JCIT (TDS) (ITAT Delhi) ITAT find that the issue as to whether penalty under section 271C of the Act is leviable for non-deduction of tax on payments made for External Development Charges (EDC) to HUDA came up for hearing before the Tribunal in the case of TDI Infrastructure Ltd. Vs. […]
In this case, AO pass order levying penalty amounting to Rs.6,62,100/- u/s 271C of Income Tax Act (being 2% of the EDC amount paid to HUDA).
Understand the consequences of non-payment of TDS/TCS & non-filing of TDS/TCS returns. Learn about the penalties and legal implications.
