Levy of interest for delay of 1 day in deposit of TDS - the ...

Case Laws Income Tax

December 29, 2022

Levy of interest for delay of 1 day in deposit of TDS - the assessee had deposited the amount with the authorized bank within the due date, however, due to technical glitch the bank could not remit the amount immediately to the account of the department and there occurred a delay of one day because of which the assessee cannot be burdened with levy of interest u/s 201(1A) - assessee cannot be burdened because of not doing an act which was beyond his control. - AT

View Source

← Previous Next →

Levy of interest for delay of 1 day in deposit of TDS - the ...

Case Laws Income Tax

December 29, 2022

You may also like:

waiver of Interest charged u/s 201 - delay in deposit of TDS - One day delay in debiting the amount from the Assessee’s bank account - delay in deposit of TDS caused by...

Levy of late filing fee u/s. 234E - Due to certain technical error committed (incorrect interchanging of PAN numbers of buyer and seller in online filing of Statement...

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...

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...

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...

Unexplained cash deposits - Deposits in regular bank account of the assessee, during demonetization period - the assessee was maintaining complete stock tally, the sales...

Prosecution u/s 276B and 278B - delay in depositing the TDS amount in the Central Government - The petitioner claims that the notice to deposit the amount was issued on...

Scope of Deposits - amounts collected by the petitioners for sale of immovable property as advance - would come under the purview of ‘deposits’ or would exempt from the...

Prosecution Proceedings - Offence u/s 276B and 278B - not depositing the TDS amount - The court acknowledged that the petitioners provided reasonable explanations for...

Requirement of pre-deposit towards compliance with proviso to Section 43 (5) of RERA - liability of Appellant to pay interest is not in praesenti but in future -...

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...

Claim of interest on delayed refund, from the date of deposit till the refund of the pre-deposit of principal amount - the assessee is entitled to claim interest from...

The case pertains to the interpretation of amended provisions of Sections 35F and 35FF of the Central Excise Act, 1944, regarding eligibility for interest on pre-deposit...

Unexplained cash deposits in bank account - The claim of the assessee remained as a bald claim only followed by no evidence. Why the depositors will deposit their funds...

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...

Quick Updates: