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 »
Tag: Section 271C
TDS / TCS Non-Compliance: Costs, Risks and Prevention
Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) are essential components of India’s tax system to ensure better tax compliance and reduce the burden of lump-sum payments… Read more »
Section 194IB – TDS on payment of Rent by certain Individuals or HUF
As per Section 194IB, it is mandatory for persons such as individuals / HUF not liable to audit u/s 44AB to deduct tax for rent paid to a resident exceeding… Read more »
Interest, Penalty & Prosecution for Failure to Deposit Tax Deducted
If a person fails to deduct the whole or any part of the tax at source, or, after deducting, fails to pay the whole or any part of the tax… Read more »
Interest, Penalty & Prosecution for Failure to Deposit Tax Deducted
If a person fails to deduct the whole or any part of the tax at source, or, after deducting, fails to pay the whole or any part of the tax… Read more »
Consequences for a deductor if he fails to deduct TDS or fails to deposit it to the Government’s account
A deductor would face the following consequences if he fails to deduct TDS or after deducting the same fails to deposit it to the credit of Central Governments account:- a)… Read more »