Income Tax : This guide explains the penalty and prosecution framework under the Income-tax Act for AY 2026-27. It highlights the consequences ...
Income Tax : The article explains how offences such as wilful tax evasion, failure to file returns, non-payment of TDS/TCS, falsification of re...
Income Tax : The article explains how delayed or incorrect filing of TDS/TCS returns attracts a late filing fee under Section 234E and penaltie...
Income Tax : This article outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment o...
Income Tax : Understand the penalties, interest, and disallowance of expenditure under Section 201 for failure to comply with TDS provisions in...
Income Tax : Budget 2024 reduces penalty relief period for TDS/TCS statement filing from one year to one month. Changes effective April 2025....
Income Tax : The Tribunal examined the levy of late fees under Section 234E for TDS defaults prior to the Finance Act 2015 amendment. It held t...
Income Tax : ITAT Raipur set aside the levy of fees under Section 234E for delayed TDS statements filed before the 01.06.2015 amendment to Sect...
Income Tax : ITAT Delhi held that disallowance under section 40A(2)(b) of the Income Tax Act on merely estimating that more income should have ...
Income Tax : ITAT Pune held that late fees u/s 234E of the Income Tax Act can be levied only prospectively with effect from 01.06.2015....
This guide explains the penalty and prosecution framework under the Income-tax Act for AY 2026-27. It highlights the consequences of tax defaults ranging from monetary penalties to imprisonment for serious violations.
The article explains how offences such as wilful tax evasion, failure to file returns, non-payment of TDS/TCS, falsification of records, and non-compliance with tax notices can trigger prosecution under the Income-tax Act.
The article explains how delayed or incorrect filing of TDS/TCS returns attracts a late filing fee under Section 234E and penalties under Section 271H. The key takeaway is that deductors must file returns on time, as delays can lead to significant financial consequences, though limited relief is available where statutory conditions or reasonable cause are established.
This article outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment of TDS/TCS, and furnishing false statements. It also highlights exceptions and safeguards available in certain situations.
The Tribunal examined the levy of late fees under Section 234E for TDS defaults prior to the Finance Act 2015 amendment. It held that Section 234E, as a charging provision, was enforceable even before procedural updates in Section 200A. The ruling emphasizes that machinery provisions cannot negate substantive liabilities.
ITAT Raipur set aside the levy of fees under Section 234E for delayed TDS statements filed before the 01.06.2015 amendment to Section 200A. Following the Karnataka High Court ruling, the Tribunal held that in the absence of an enabling provision for computation, the levy of a late fee for the period before that date is unenforceable.
Understand the penalties, interest, and disallowance of expenditure under Section 201 for failure to comply with TDS provisions in India.
Budget 2024 reduces penalty relief period for TDS/TCS statement filing from one year to one month. Changes effective April 2025.
Learn about TDS on property purchase under Section 194IA of the Income Tax Act, 1961. Get insights on requirements, payment process, and penalties involved.
ITAT Delhi held that disallowance under section 40A(2)(b) of the Income Tax Act on merely estimating that more income should have been earned from sub-contracting without bringing any comparable figures is unsustainable in law.
