Section 269SU Income Tax : Acceptance of payment through prescribed electronic modes. Clause 59 of Finance Bill 2019 59. After section 269ST of the Income-tax Act, the following section shall be inserted with effect from the 1st day of November, 2019, namely:— Acceptance of payment through prescribed electronic modes. “269SU. Every person, carrying on business,… Read More »
Section 272B after Amendment by Finance Bill 2019 w.e.f 01.09.2019 Penalty for failure to comply with the provisions of section 139A. 272B. (1) If a person fails to comply with the provisions of section 139A, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of ten thousand rupees. (2) If a… Read More »
Delay in Filing of TDS due to sudden Resignation of Accountant is ‘Sufficient Cause’: ITAT Sudip Roy Chowdhury vs. JCIT, TDS Case No. – 1890/Kol/2018 Date – 12.06.2019 Fact of the Case In the present case the assessee is the sole proprietor of a partnership firm. The income tax department has initiated proceedings… Read More »
Section 271DB Income Tax Act Clause 62 of Finance Bill 2019 62. After section 271DA of the Income-tax Act, the following section shall be inserted with effect from the 1st day of November, 2019, namely:— Penalty for failure to comply with provisions of section 269S “271DB.(1) If a person who is required to provide facility… Read More »