Income Tax : CBDT issues new compounding guidelines simplifying process, eligibility, charges, and procedures under the Income-tax Act from Oct...
Income Tax : A summary of prosecution offences under Chapter XXII of the Income Tax Act (Sections 275A to 280), detailing the rigorous imprison...
Income Tax : CBDT's new Compounding of Offence Guidelines (2024) simplify the process but maintain strict compliance rules. Learn about eligibi...
Income Tax : Stay updated with the latest TDS compliance under Section 192 of the I.T. Act, emphasizing the importance of Form 12BB for employe...
Income Tax : Delve into Section 276B of the Income Tax Act and its implications. Discover the nuances of the recent Supreme Court ruling in Dev...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : From October 2024, Section 276B of the Income-tax Act will exempt individuals from prosecution for timely payment of deducted tax....
Income Tax : The High Court set aside the discharge of a company director in proceedings under Section 276B, holding that the Trial Court’s f...
Income Tax : The issue concerned whether failure to deduct TDS on foreign commission warranted disallowance. The Tribunal held that Section 195...
Income Tax : The High Court held that criminal prosecution for delayed TDS payment cannot survive where sanction is granted mechanically withou...
Income Tax : The dispute concerned denial of TDS credit solely due to non-reflection in Form 26AS. The Tribunal held that Form 26AS is not conc...
Income Tax : Delhi High Court ruled that prosecution under Income Tax Act Sections 276C and 278E can proceed when evaded tax exceeds Rs.25 cror...
The High Court set aside the discharge of a company director in proceedings under Section 276B, holding that the Trial Court’s finding was common and already overturned for the Managing Director. The matter was remitted, granting liberty to contest involvement in day-to-day affairs.
The issue concerned whether failure to deduct TDS on foreign commission warranted disallowance. The Tribunal held that Section 195 is triggered only when the payment is chargeable to tax in India, reaffirming settled Supreme Court principles.
The High Court held that criminal prosecution for delayed TDS payment cannot survive where sanction is granted mechanically without examining explanations and mitigating circumstances.
The dispute concerned denial of TDS credit solely due to non-reflection in Form 26AS. The Tribunal held that Form 26AS is not conclusive and factual deduction of tax overrides system mismatch.
Delhi High Court ruled that prosecution under Income Tax Act Sections 276C and 278E can proceed when evaded tax exceeds Rs.25 crores, even if appeals are pending, confirming proper authority delegation.
Delhi High Court restored conviction of Great Indian Nautanki Co. Pvt. Ltd. for delayed TDS deposit but replaced ₹25 lakh fine with admonition, calling it a technical offence.
CBDT issues new compounding guidelines simplifying process, eligibility, charges, and procedures under the Income-tax Act from October 17, 2024.
A summary of prosecution offences under Chapter XXII of the Income Tax Act (Sections 275A to 280), detailing the rigorous imprisonment and fines for serious defaults, including wilful tax evasion, failure to remit TDS/TCS, non-compliance during search, and fraudulent property disposal.
Bombay HC clarified Section 276C(2), holding that mere failure to pay self-assessment tax is not willful evasion, quashing prosecution after tax was paid belatedly.
CBDT’s new Compounding of Offence Guidelines (2024) simplify the process but maintain strict compliance rules. Learn about eligibility, non-refundable fees, mandatory payment of all outstanding tax dues, the structure of compounding charges for offences like TDS/TCS default or tax evasion (Sec. 276C), and rules for late applications.
