Section 271C: Penalty for failing to deduct TDS
Section 271C of the Income Tax Act, 1961, outlines the penalties for failing to deduct or remit Tax Deducted at Source (TDS) as mandated by the Act. The Supreme Court… Read more »
Section 271C of the Income Tax Act, 1961, outlines the penalties for failing to deduct or remit Tax Deducted at Source (TDS) as mandated by the Act. The Supreme Court… Read more »
The Income Tax Department, through Circular No. 5/2025, dated 28th March ’25, has introduced a waiver mechanism for certain interest liabilities related to TDS / TCS. Interest Waiver Provision: The… Read more »
Effective from 1st October 2024, issue of certificates under Section 197 (lower deduction / collection) has been extended to include Sections 194Q and 206C. This change is a landmark as… Read more »
Extension of time limits for certain TDS compliances has taken place, to provide relief to taxpayers in view of the severe pandemic. Reference: Circular No. 12 dated 25th June 2021… Read more »
Given below are some do’s and don’ts for filing of TDS returns: Do’s Ensure that TDS return is filed with the same TAN against which TDS payment has been made…. Read more »
Section 115BAC has been inserted in the Finance Act 2020 in the recent budget. This allows the option to Individuals & HUF to avail concessional rate of income tax with… Read more »