Levy of interest u/s 201(1A) - failure to deduct TDS u/s 194J - ...

Interest Automatically Charged for TDS Failure u/s 201(1A) Despite Deductee Tax Payment, No Discretion Allowed.

September 11, 2018

Case Laws Income Tax AT

Levy of interest u/s 201(1A) - failure to deduct TDS u/s 194J - payments made by the assessee herein have been included in the income of the deductees and taxes paid thereon. - There is no choice available to the revenue and interest u/s 201(1A) is to be mandatorily charged for the delayed period of remittance and is automatic in nature.

View Source

← Previous Next →

Levy of interest u/s 201(1A) - failure to deduct TDS u/s 194J - ...

Interest Automatically Charged for TDS Failure u/s 201(1A) Despite Deductee Tax Payment, No Discretion Allowed.

September 11, 2018

Case Laws Income Tax AT

You may also like:

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...

Levy of interest u/s. 201(1A) - period of interest liability - TDS demand was deleted on ground that deductees/parties have reflected the receipts in their income -...

Refund of interest u/s 201(1A) - Any payment of TDS by the deductor in respect of payment made to deductee-petitioner will entitle the deductee to get back such TDS with...

Demand on Interest on delayed payment of TDS - The interest u/s. 201(1A) since it is to be calculated from the date on which tax is to be deducted and being mandatory,...

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...

The case involves TDS issues u/s 194A, 194H, and 194J concerning surplus interest retained by NBFCs. The assessee, a bank, purchased loans from NBFCs with a tripartite...

Default u/s 201(1) - failure to deduct TDS - liability to pay interest u/s 201(1A) if the payee of such amounts has files a nil return or a return showing a loss -...

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...

TDS u/s 195 - Demand u/s 201(1) and interest charged u/s 201(1A) - the year-end provisions made by the assessee included “Commission payable to non-residents”, which is...

The Income Tax Appellate Tribunal held that if there are bona fide reasons for deducting lower tax in the earlier months of the financial year, and the shortfall is...

TDS u/s 194I on payment of annual lease rent aid to UPSIDC - assessee in default - the deductee has shown the amount paid as income and also paid taxes thereon,...

Levy of interest u/s 201(1A) - bonafide belief - Non deduction of TDS on perquisite - unlike Section 221 of the Act, Section 201 (1A) of the Act is not hedged in by any...

TDS u/s 194C or 194I - default u/s. 201(1) - short deduction of TDS - Payment of common area maintenance charges (CAM charges) - the payments made towards CAM charges...

ITAT ruled that alternative accommodation charges paid to tenants under SRA scheme do not constitute consideration for share in land/building under development agreement....

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...

Quick Updates: