Category: TCS

Tax Collected at Source

Levy u/s 234E of the Income Tax Act, 1961 is a statutory levy and cannot be waived

If the deductor is charged penalty amount u/s 234E then this penalty has to be paid to the Income Tax Department using Challan No. 281, and this penalty cannot be… Read more »

Penalty Chart under the Income Tax Act, 1961

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Given below is the chart which shows section under which penalty can be imposed, nature of default and quantum of penalty. PENALTIES UNDER INCOME TAX ACT Section Nature of Default… Read more »