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Section 272B

Latest Articles


GSTR-2A removed from GST Portal from January 2022 & onwards

Goods and Services Tax : GSTR-2A has been removed from the GST Portal for the month of January 2022 and onwards, only GSTR-2B shall be available. GSTR-2A t...

January 6, 2022 24168 Views 7 comments Print

Section 272B Penalty for failure to comply with provisions of PAN

Income Tax : Understand the penalty for non-compliance with PAN provisions. Learn about the implications of section 272B of the Income Tax Act ...

February 24, 2020 30879 Views 0 comment Print

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,...

July 24, 2018 42934 Views 30 comments Print


Latest Judiciary


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

Income Tax : Here the assessee originally did not have the correct PANs of all the persons from whose payments, tax at source was required to b...

June 17, 2015 2072 Views 0 comment Print

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

Income Tax : The assessing officer had imposed penalty of Rs. 10,000/- in each case where PAN Number was not provided by the deductee. There we...

January 15, 2014 7282 Views 0 comment Print


Latest Posts in Section 272B

GSTR-2A removed from GST Portal from January 2022 & onwards

January 6, 2022 24168 Views 7 comments Print

GSTR-2A has been removed from the GST Portal for the month of January 2022 and onwards, only GSTR-2B shall be available. GSTR-2A till December 2021 shall be available. Vide Notification No. 40/2021-Central Tax dated 29th December, 2021. Form GSTR-2A is a system generated Statement of Inward Supplies for a recipient. Form GSTR-2A will be generated […]

Section 272B Penalty for failure to comply with provisions of PAN

February 24, 2020 30879 Views 0 comment Print

Understand the penalty for non-compliance with PAN provisions. Learn about the implications of section 272B of the Income Tax Act and the amount of penalty payable.

Don’t Take TDS Lightly

July 24, 2018 42934 Views 30 comments Print

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.

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

June 17, 2015 2072 Views 0 comment Print

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 available at the time of filing e-returns. As soon as the AO issued notice for imposing penalty u/s 272B, the assessee obtained the relevant PANs and complied with the requirement by filing the revised statement.

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

January 15, 2014 7282 Views 0 comment Print

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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