Interest Liability for TDS Assessee-in-Default
A TAN holder who fails to deduct whole or any part of the tax at source is treated as an assessee-in-default. But, as per provision in section 201 the TAN… Read more »
Category: TDS payment
Non-Deduction of TDS owing to bonafide belief by Deductor – Judgement/Order
Ms Karnataka Power Transmission Corpn. Ltd. Vs ITO (OSD) (TDS) (ITAT Bangalore) FACTS – Karnataka Power Transmission Corporation Ltd. paid cash equivalent of unutilized leave at the time of retirement… Read more »
What is the difference in TDS on Rent u/s 194-I and 194-IB?
What is the difference between section 194-I and 194-IB? Section 194-I is applicable to the tenant who is an individual or HUF (Hindu Undivided Family) and is liable to deduct… Read more »
How to calculate the Interest for failure to deduct tax at source?
As per the provisions in section 201, if a person liable to deduct tax at source does not deduct it, then, such person, shall be liable to pay simple interest… Read more »
How to calculate the Interest for delay in payment of TDS?
If any person who after deducting tax at source fails to pay, the whole or any part of the tax to the credit of the Government as per section 201,… Read more »
7th March – last date for TDS & TCS payment
Please note that 7th March, 2019 is the last date for TDS and TCS payments for the deductions made in February 2019. Make sure to do the needful on time to… Read more »