Tag: Section 272B

Consequences of TDS / TCS defaults

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The following table highlights the applicable provisions and implications of non-compliance with TDS / TCS requirements, including failure to deduct, collect or deposit tax : Nature of Default Old Section… Read more »

Penalty for non furnishing of PAN in TDS statement

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In case, the PAN Numbers are not furnished by the deductees, the respondent-assessee cannot be penalised under Section 272B. Section 139A also imposes the obligation on the deductees to furnish… Read more »