Penalty u/s 271C - non deducting tax at source from the payment ...

Income Tax

July 2, 2020

Penalty u/s 271C - non deducting tax at source from the payment towards LTC consisting of foreign travel - for the first time, after the survey by the tax departments this issue arose for consideration and after the judgment of the Tribunal, the matter got clarified and the assessee bank has duly complied and deposited the outstanding demand along with interest and has taken corrective steps in subsequent years as well. - No penalty since there was reasonable cause u/s 273B.

View Source

← Previous Next →

Penalty u/s 271C - non deducting tax at source from the payment ...

Income Tax

July 2, 2020

You may also like:

Penalty levied u/s 271C - Non deducting TDS on the LTC payments made towards foreign travel - there is a reasonable cause on the part of the assessee in not deducting...

TDS u/s 192 - LTC to an employee - exemption u/s 10(5) - foreign travel - A foreign travel also frustrates the basic purpose of LTC. The basic objective of the LTC...

Penalty u/s 271C - the assessee has proved that there was reasonable cause for failure to deduct tax at source - penalty was righlty set asdide by the tribunal - HC

Penalty u/s 271C – reasonable cause - The assessees are partners in a firm – Both the assessees has paid interest to firm without deducting tax at source - No penalty - AT

Penalty under section 271C - failure to deduct tax on payment made on account of salary - No contumacious conduct can therefore be attributed to the assessee - No penalty - AT

Qualification for exemption u/s 10(5) - LTC paid to the employees involving foreign travel - TDS on the payment of LTC to the employees - Revenue has rightly held the...

Penalty u/s Sec. 271C - non deduction of tds on five foreign remittances u/s 195 - there was reasonable cause as envisaged u/s 273B for not deducting tax at source by...

Penalty levied u/s 271C - bonafide belief - reasonable cause - failure to deduct the tax at source (TDS) - By the time the assessee was under obligation to deduct tax at...

Levy of penalty u/s 271C - delay in deposit of Tax deducted at source (TDS) - Section 271C(1)(a) shall be applicable in case of a failure on the part of the concerned...

Penalty u/s 271C - non-deduction of tax at source from the payment of harvesting charges paid to contractors - We are aware that ignorance of law is not an excuse but at...

Quick Updates: