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 »
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 »
Given below are the points one should remember regarding TDS statement: Correct Reporting: Cancellation of TDS return and deductee row is no longer permissible. Accordingly, it is very important to report… Read more »
Failure to deduct tax, deducting less tax, delay in payment of the deducted tax to the Government, makes the deductor an assessee liable to penalty, which is equal to the… Read more »
The PAN of an entity (Central Office, Headquarter etc.), having more than one TAN for its branches, associated with the referenced PAN, can review the ‘Aggregated TDS Compliance’ report on… Read more »
Failure to deduct tax, deducting less tax, delay in payment of the deducted tax to the Government, makes the deductor an assessee liable to penalty, which is equal to the… Read more »
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