Held Though it is sought to be contended by learned counsel for the appellant that non-filing of the e-TDS statements had not resulted in loss to the revenue but the requirement of filing e-TDS statements in time cannot be overlooked. The Department cannot accurately process the returns on whose behalf tax has been deducted until… Read More »
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the Dated: 17th June, 2016 Notification No. 47/2016 INCOME TAX S.O. 2143(E).—In exercise of the powers conferred by sub-section (1F) of section 197A of the Income-tax Act, 1961 (43 of 1961) and in supersession of the notification of the Government of… Read More »
CIRCULAR NO. 4/2008, DATED 28-4-2008 Section 194-I of the Income-tax Act, 1961 – Deduction of tax at source – Rent – Clarification on deduction of tax at source (TDS) on service tax component on rental income under section 194-I Representations/letters have been received in the Board seeking clarification as to whether TDS provisions under section… Read More »
SECTION 199 OF THE INCOME-TAX ACT, 1961 DEDUCTION OF TAX AT SOURCE CREDIT FOR TAX DEDUCTED NON-DEPOSIT OF TAX DEDUCTED AT SOURCE BY THE DEDUCTOR RECOVERY OF DEMAND AGAINST DEDUCTEE ASSESSEE OFFICE MEMORANDUM F.NO.275/29/2014-IT(B), DATED 11-3-2016 Vide letter of even number dated 1-6-2015, the Board had issued directions to the field officers that in case… Read More »
Requirement to deduct tax at source under section 194C is mandatory and, in case of assessee’s failure to do so in respect of contractual payments, disallowance has to be made under section 40(a)(ia) irrespective of fact as to whether assessee is following cash or mercantile system of accounting HIGH COURT OF PUNJAB AND HARYANA P.M.S.… Read More »