Section 272B

Don’t Take TDS Lightly

Income Tax - Nowadays delay in payment of TDS and in TDS return Filing makes an assessee liable to Late Payment Interest, Late Payment Penalty, Late Filing Fees, Late Filing Penalty and Further makes him liable to prosecution under the provision of the Income Tax Act, 1961....

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No Penalty u/s 272B, if Reasonable cause proved for missing PAN nos. in TDS returns

ITO (TDS), Rohtak Vs The Executive Engineer,Provisional Division,Public Health, Jhajjar (ITAT Delhi) - Here the assessee originally did not have the correct PANs of all the persons from whose payments, tax at source was required to be deducted. Despite that, the assessee did deduct tax at source and paid the amount to the exchequer well in time. The only fault of the assessee was in not filling PANs ...

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S. 272B Penalty is Rs. 10000 per deductor and not per wrong PAN

Commissioner of Income Tax-TDS Vs DHTC Logistics Ltd. (Delhi High Court) - The assessing officer had imposed penalty of Rs. 10,000/- in each case where PAN Number was not provided by the deductee. There were in all 30706 cases in which the PAN Number was missing or was incorrectly stated....

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Recent Posts in "Section 272B"

Don’t Take TDS Lightly

Nowadays delay in payment of TDS and in TDS return Filing makes an assessee liable to Late Payment Interest, Late Payment Penalty, Late Filing Fees, Late Filing Penalty and Further makes him liable to prosecution under the provision of the Income Tax Act, 1961....

Read More
Posted Under: Income Tax |

No Penalty u/s 272B, if Reasonable cause proved for missing PAN nos. in TDS returns

ITO (TDS), Rohtak Vs The Executive Engineer,Provisional Division,Public Health, Jhajjar (ITAT Delhi)

Here the assessee originally did not have the correct PANs of all the persons from whose payments, tax at source was required to be deducted. Despite that, the assessee did deduct tax at source and paid the amount to the exchequer well in time. The only fault of the assessee was in not filling PANs of some of the deductees which were not ...

Read More

S. 272B Penalty is Rs. 10000 per deductor and not per wrong PAN

Commissioner of Income Tax-TDS Vs DHTC Logistics Ltd. (Delhi High Court)

The assessing officer had imposed penalty of Rs. 10,000/- in each case where PAN Number was not provided by the deductee. There were in all 30706 cases in which the PAN Number was missing or was incorrectly stated....

Read More

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