TDS on Big Transporters proposed to be levied wef 01.06.2015
Under the existing provisions of section 194C of the Act payment to contractors is subject to tax deduction at source (TDS) at the rate of 1% in case the payee… Read more »
TDS on Pre-mature EPF withdrawals Proposed @ 10% wef 01.06.2015
Under the Employees Provident Fund and Miscellaneous Provisions Act, 1952 (EPF & MP Act, 1952), certain specified employers are required to comply with the Employees Provident Fund Scheme, 1952 (EPFS)…. Read more »
Charges collected for late filing of TDS return is a fees and not a tax
The fee sought to be levied under section 234E for late filing of TDS return is not a tax that is sought to be levied on the deductor. If the… Read more »
Expense before 1.4.2013 shall be disallowed if TDS not deducted
Recently in Thomas George Muthoot vs. Assistant Commissioner of Income Tax, it was held that the assessee partner shall deduct TDS on the interest amount paid to the partnership firm,… Read more »
Late Filing Fee u/s 234E – Judicial Interpretation – Hon’ble High Court of Bombay – February 6, 2015
Dear Deductor, Section 234E of the Income-tax Act, 1961 inserted by the Finance Act, 2012 provides for levy of a fee of Rs. 200/- for each day’s delay in filing… Read more »
CPC (TDS) follow-up for payment of outstanding Late Filing Fee u/s 234E
CPC (TDS) has issued a follow up communication for the payment of outstanding late etds filling fees u/s 234E. In the communiation, CPC (TDS) has also mentioned about the action… Read more »