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 December 2017 Year 2017 This

Addition on account of interest paid on delayed payment of ...


Interest on Delayed TDS/TCS Payment Not Disallowable Expense u/s 40(a)(ii) of Income Tax Act.

December 23, 2017

Case Laws     Income Tax     AT

Addition on account of interest paid on delayed payment of TDS/TCS - the interest on delayed payment of TDS/TCS cannot be considered to be a payment towards any rate or tax levied on the profit or gains of any business or profession as provided u/s. 40 (a)(ii) of the Act. - AT

View Source

 


 

You may also like:

  1. Disallowance on account of interest paid on delayed payment of TDS - as the tax deducted at source (TDS) is not in the nature of the income tax which is required to be...

  2. Allowable deduction - Education Cess (EC) and Secondary & Higher Education Cess (SHEC) on income-tax - It is settled that, education cess on income-tax, dividend...

  3. 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...

  4. Disallowance u/s 40(a)(ii) - interest on service tax - not a tax levied on the profits/gains of any business or profession hence not disallowable u/s 40(a)(ii) -...

  5. Income Tax: Proposed amendment to increase simple interest rate from 1% to 1.5% per month or part thereof on late payment of tax collected at source (TCS) to government...

  6. TDS u/s 194C - Non deduction of TDS on payments to shipping companies and CFS Agents - Addition u/s 40(a)(ia) - payments made by the assessee to shipping companies/CFS...

  7. TDS u/s 195 - disallowance u/s. 40(a)(i) for non deduction of TDS on payment to non-resident which is in nature of FTS(Fee for Technical Service) - beneficial provisions...

  8. TDS u/s 194H or 192 - addition u/s 40(a)(ia) - Non-deduction of TDS on payment of commission to directors - appellant considered payment as salary and deducted TDS u/s...

  9. TDS u/s 195 - reinsurance premium ceded to non-resident reinsurer is not taxable in India under the Income Tax Act, 1961 or under DTAA between India and respective...

  10. Proposed amendment enables recovery of existing liabilities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from seized assets...

  11. Disallowing interest expenses u/s. 40(a)(ia) - tax deducted at source (TDS) was not deposited - No disallowance u/s. 40(a)(ia) is warranted as the payee has accounted...

  12. Addition u/s 40(a)(ia) - Non-deduction of TDS - year end provisions was made by assessee in respect of expenses - As regards to the claim of the assessee that in...

  13. Rates of Income Tax, TDS, TCS, and Depreciation etc. as amended.

  14. Exempt dividend income earned by assessee. Interest-free owned funds exceeded investments in tax-free securities, disallowance u/r 8D(2)(ii) not warranted. For Rule...

  15. Disallowance u/s 40(a)(i) - marginal delay in deposit of TDS - TDS deducted from payment to non-residents - Only marginal delay in deposit of tax deducted at source has...

 

Quick Updates:Latest Updates