Tag: section 201(1)

Section 398 of the Income Tax Act, 2025 – Consequences of TDS Defaults

      No Comments on Section 398 of the Income Tax Act, 2025 – Consequences of TDS Defaults

The provisions relating to Tax Deducted at Source (TDS) defaults have been restructured under the Income Tax Act, 2025. The earlier Section 201(1) and Section 201(1A) of the Income Tax… Read more »

CPC (TDS) communication for payment of outstanding Short Payment Defaults

      No Comments on CPC (TDS) communication for payment of outstanding Short Payment Defaults

According to CPC (TDS), there are outstanding short payment defaults for TDS statements filed by deductors. The letter issued by CPC (TDS) to deductors in this regard is given as followed:… Read more »

No penalty & interest for non deduction of TDS if deductee-payee having no tax liability

      No Comments on No penalty & interest for non deduction of TDS if deductee-payee having no tax liability

There cannot be any dispute that an assessee who is having losses cannot be compelled to pay the income-tax, as the Income-tax Act does not provide for such a situation,… Read more »