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Income Tax - Highlights / Catch Notes

Home Highlights January 2024 Year 2024 This

Tax Credit Entitlement - Credit of TDS if deductor failed to ...


Taxpayers can claim TDS credit even if deductor fails to deposit; emphasizes deductor's responsibility to comply.

January 15, 2024

Notes     Income Tax

Tax Credit Entitlement - Credit of TDS if deductor failed to deposit the TDS to the Government

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  1. ITAT affirmed CIT(A)'s directive to grant TDS credit per Form 26AS despite taxpayer's initial failure to claim full credit in tax return due to software technical issues....

  2. A Landmark Judgment on Tax Credit Entitlement - Credit of TDS if deductor failed to deposit the TDS to the Government

  3. Short grant of TDS credit - CPC has denied the TDS credit on the ground that amount is not reflected in 26AS - when there such pressing circumstances and Revenue is...

  4. Denial of credit of TDS - whether the assessee is liable for deposit/payment of the TDS already deducted by the vendee, but not deposited or be given credit of the same?...

  5. Non-grant of credit of TDS due to deductor's failure to deposit tax with the government - HELD: No discrepancy found in assessee's documents. No independent verification...

  6. Credit of TDS if deductor not deposited TDS - Act does not seem to cast a burden on the deductee/payee with regard to the deposit of money, which is retained as tax, by...

  7. Credit of the tax deducted at source (TDS) as TDS deducted by the employer - mis-match of tax deducted u/s 192 and the amount reflected in Form 26AS - The Court...

  8. The Assessee claimed TDS credit on salary, but the employer did not reflect the TDS in Form 26AS or provide Form 16. The Assessee contended that even if the employer...

  9. Entitlement for TDS credit - venture capital undertakings - proportionate share of contributors - deduction of TDS by the deductors on behalf of the assessee or not? -...

  10. Denial of TDS credit post amalgamation and merger proceedings - scheme of arrangement approved by NCLT - assessee contended that due to the scheme of arrangement, the...

  11. Credit of TDS - Deductor deducted the TDS in the subsequent year - Income was shown in the ITR for the earlier year - since the assessee has shown income, the assessee...

  12. The Appellate Tribunal addressed two issues regarding TDS credit. Firstly, the Tribunal emphasized that income and TDS must align in any assessment year when income is...

  13. 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...

  14. The assessee claimed that the deductor had deducted tax but failed to deposit it with the Central Government, leading to a mismatch between tax credits claimed and...

  15. Procedural lapses by third parties should not deprive taxpayers of TDS credit when they have acted in good faith and declared income. Section 205 bars direct tax...

 

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