Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights February 2012 Year 2012 This

TDS - lessee deducted Tax at 15% instead of 20% - Owner paid ...


Court Rules No Interest Liability for Assessee on Short TDS Deduction After Owner Settles Tax and Interest.

February 21, 2012

Case Laws     Income Tax     HC

TDS - lessee deducted Tax at 15% instead of 20% - Owner paid differential tax with interest - no liability on the part of the assessee to pay any interest for short deduction of TDS as the owner has paid the said tax. - HC

View Source

 


 

You may also like:

  1. The case pertains to the levy of interest u/s 234C for failure on the part of the payer to deduct tax deducted at source (TDS) u/ss 196D and 194LD. The key points are:...

  2. The case involved a dispute over short collection of TDS due to lower TDS certificates with different TANs issued by deductees. The Central Processing Centre (CPC)...

  3. ITAT held no TDS liability arose for payments made to supplier for railway tracks as no statutory provision mandated tax deduction on material supply payments during the...

  4. Adjustment of excess service tax paid with subsequent service tax liability - case of Revenue is that Rule 6 (3) of Service Tax Rules, 1994 do not provide for such...

  5. Disallowance u/s 40(a)(ia) for non-deduction of tax at source (TDS) - assessee in default - Assessee has paid interest u/s 201(1A) for non-deduction/short deduction of...

  6. TDS u/s 194A OR 194C - short deduction of TDS - compensation paid by the assessee for breach of contract u/s.40(a)(ia) - If at all there is shortfall in TDS deducted by...

  7. Interest paid on late payment of TDS - allowable deduction u/s 37(1) or not? - Interest on delayed payment of TDS cannot be allowed as deduction. - The interest...

  8. Non-deduction of TDS - When the assessee has submitted necessary declaration in Form Nos.15G/15H for non-deduction of TDS and also for reversal of TDS deduction on...

  9. The High Court held that the Land Acquisition Officer (LAO) cannot be penalized u/s 201 and 201(1A) of the Income Tax Act, 1961 for non-deduction of TDS on compensation...

  10. Levying interest u/s 234C - Advance tax - Non-deduction of TDS by the payer - The interest income received by the assessee from IOCL was liable for deduction of tax at...

  11. Tax free payments - TDS liability born by the assessee - the TDS, as exigible on payments, is grossed up, and payment made accordingly - deduction on account of tax...

  12. The ITAT allowed the assessee's appeal, holding that contributions made to the unrecognized provident fund and unapproved pension fund were eligible for deduction under...

  13. The Income Tax Appellate Tribunal held that the assessee was not an "assessee in default" for non-deduction of tax deducted at source (TDS) u/s 194A on interest paid on...

  14. Short deduction of taxes - Credit to the assessee for TDS deducted denied - the assessee has deducted and deposited TDS within time, but due to a technical error in CPC...

  15. Bank liability to deduct TDS in respect of the LTC/LFC bills - assessee in default u/s 201(1)(1A) for non-deduction of tax under Section 192 - The ITAT, aligning with...

 

Quick Updates:Latest Updates