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 : Learn about TDS on property purchase under Section 194IA of the Income Tax Act, 1961. Get insights on requirements, payment proces...
CA, CS, CMA, Income Tax : Understand the consequences of non-payment of TDS/TCS & non-filing of TDS/TCS returns. Learn about the penalties and legal implica...
Income Tax : Apart from penalty for various defaults, the Income-tax Act also contains provisions for launching prosecution proceedings against...
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....
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.
A summary of key penalties under the Income Tax Act for AY 2026-27, covering defaults from late filing and non-payment to misreporting income and non-compliance with compliance. Learn about financial penalties and potential rigorous imprisonment for serious tax offenses.
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.
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.
Understand the consequences of non-payment of TDS/TCS & non-filing of TDS/TCS returns. Learn about the penalties and legal implications.
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.
