Levying interest u/s 234C - Advance tax - Non-deduction of TDS ...

Interest Income Excluded from Tax Due Calculation u/s 234C Due to Payer's TDS Failure.

September 28, 2020

Case Laws Income Tax AT

Levying interest u/s 234C - Advance tax - Non-deduction of TDS by the payer - The interest income received by the assessee from IOCL was liable for deduction of tax at source, which however, was not done by the payer. Accordingly, tax deductible at source on the aforesaid amount of interest income - This amount had to be excluded from the tax due on the returned income for the purpose of computing the interest liability u/s 234C - AT

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Levying interest u/s 234C - Advance tax - Non-deduction of TDS ...

Interest Income Excluded from Tax Due Calculation u/s 234C Due to Payer's TDS Failure.

September 28, 2020

Case Laws Income Tax AT

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