Deduction of expenditure representing TDS amount as deducted but ...

Case Laws Income Tax

January 6, 2021

Deduction of expenditure representing TDS amount as deducted but not deposited following the Cash Basis of accounting - The amount of tax deducted at source is always considered as the sum paid by the assessee on behalf of the recipient of the income. - Therefore, it cannot be said that the above sum has not been paid by the assessee even while following the cash system of accounting. - deduction of expenditure allowed - AT

View Source

← Previous Next →

Deduction of expenditure representing TDS amount as deducted but ...

Case Laws Income Tax

January 6, 2021

You may also like:

Cash deposits made post demonetization represented unaccounted income of the assessee qua AY 2017-2018 - Having regard to the extensive material which has been examined...

Return of TDS amount deducted u/s 194A on award passed under motor insurance act - This application is allowed and the Registry is directed to release the amount...

TDS u/s 40 (a)(ia) - TDS on interest to outgoing partner of the partnership firm - As per provisions of section 40(a)(ia) even if assessee debited expenditure, but same...

Default in not depositing the TDS amount, as deducted, with the government - The High court underscored the mandatory nature of issuing TDS certificates or ensuring the...

TDS deducted u/s 194J - delay in deposit of the TDS deduction - applicability of section 43B in case of appellant, as the appellant is following cash of accounting u/s...

Prosecution for commission of offence u/s 276B r/w 278B - Sanction u/s 279(1) - TDS deducted but not deposited in time - The amount has already been deposited with...

Disallowance in respect of interest on delayed deposit of ‘taxes deducted at source’ (TDS) - Allowing of such interest payment on delayed deposit of TDS as deduction...

The ITAT considered the issue of cash deposits and other credits in the assessee's saving bank account. The tribunal noted that the cash deposits were not made in a...

Deposits by the assessee in bank account during demonetization period were not unexplained. Section 69A is inapplicable as there were proper entries for cash sales, cash...

Service tax recovery from foreign government agencies for statutory fees/licenses - Petitioner's declaration under SVLDRS rejected - HC held pre-deposit amount during...

Business expenditure u/s 37(1) - The issue can also be looked into from another angle. Admittedly, the assessee is collecting TDS on behalf of the Government. The TDS...

Cash credit u/s 68 r.w.s. 115BBE - cash deposit during demonetization period - assessee's failure to maintain books of accounts u/s 44AD. Held that where exemption from...

Unexplained cash deposits in bank - receipt of rental deposits in cash - The fact remains that the cash rental deposits have been received by the assessee which is not...

Claiming TDS credit whereas interest income was not recognized following cash basis of accounting - TDS amount deserves to be treated as income - but tds credit cannot...

The delayed deposit of employees' share of contributions towards ESIC and EPF by the assessee beyond the due dates prescribed under the respective Acts would constitute...

Quick Updates: